Eutelsat has increased its stake in OneWeb from 17.6 per cent to 22.9 per cent. In a statement, Eutelsat Communications stated that it has exercised a call option on a portion of the latest OneWeb round of funding subscribed by Bharti for a consideration of $165 million.
According to Eutelsat, the transaction, which had financial terms similar to the company’s initial investment of $550 million, will be completed by end of 2021, subject to regulatory approval. Eutelsat will then become OneWeb’s second-largest shareholder after Bharti with 30 per cent.
Earlier, OneWeb has raised an additional $500 million from Bharti for the funding of its first-generation constellation and a $300 million capital investment from South Korea’s Hanwha.
