PARIS — Satellite fleet operator Avanti Communications said it had contracted with an unnamed “major international satellite service provider” to lease wholesale capacity valued at $12 million per year over seven years.

The contract, expected to take effect in mid-2019, is for capacity on one or more of Avanti’s Hylas satellites and will “increase significantly the company’s usage and fill rates,” Avanti said in a statement to the London Stock Exchange.

The contract is the latest development in what Avanti and its long-suffering shareholders hope ultimately . . .

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