LONDON/PARIS — French satellite tv for pc firm Eutelsat is poised to purchase British rival OneWeb in a deal that may very well be introduced as early as Monday, two sources near the negotiations stated on Sunday.
The mix of the 2 firms would strengthen their place within the race to construct a constellation of low-orbit satellites, difficult the likes Elon Musk’s Starlink.
The proposed takeover will go away the British authorities with a minority stake within the enterprise it rescued from chapter in partnership with India’s Bharti International in July 2020, one of many sources stated.
Eutelsat, OneWeb’s second-biggest shareholder behind Bharti with a 23% stake, declined to remark. (Reporting by Elizabeth Piper in London and Mathieu Rosemain in Paris Enhancing by David Goodman)