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Eutelsat: shares now listed on LSE

( - On Friday, Eutelsat announced that its shares have begun trading on the London Stock Exchange's standard market, following the completion of its merger with OneWeb, which closed this week.

Eutelsat yesterday announced the closing of its merger with OneWeb, a specialist in low earth orbit (LEO) satellite communications, after shareholder approval.

The merger creates the Eutelsat Group, which will be listed in London under the mnemonic "ETL", as in Paris.

Eutelsat is one of the few listed companies to offer exposure to the space sector, management said.

The new entity, which will retain its head office in Paris, confirmed that it was counting on double-digit compound annual sales growth over the medium-to-long term, with a target of around E2bn by 2027.

Adjusted EBITDA should also grow at a double-digit rate over the period, outpacing sales growth.

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