Eutelsat: combination with OneWeb effective
(CercleFinance.com) - Eutelsat Communications announces that, following approval by its AGM, its combination with OneWeb, the global LEO satellite communications network, is now effective, giving rise to the Eutelsat Group.
OneWeb will be a subsidiary operating commercially under the name of Eutelsat OneWeb, keeping its operational centre in London. Meanwhile, Eutelsat remains listed in Paris and has applied for admission to the standard segment of the London Stock Exchange.
"With OneWeb's network already active and set to be globally operational by end of 2023, the combined GEO-LEO service will open up new markets and applications for customers," it says.
The combined entity expects a double-digit CAGR in sales over the medium-to-long term, reaching around two billion euros in 2027, and a double-digit CAGR in adjusted EBITDA over the same period, i.e. above sales growth.
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