Et tu, Eutelsat? Satellite operator invests $550M in OneWeb for 24% stake, overcoming doubts about LEO economics

by Peter B. de Selding

PARIS — Satellite fleet operator Eutelsat is investing $550 million for a 24% stake in the OneWeb startup satellite broadband network, valuing OneWeb at nearly $2.3 billion — compared to about $1.18 billion when the company exited bankruptcy in November.

Eutelsat will have seats on the OneWeb board alongside the two principal OneWeb shareholders, the British government and India’s Bharti Global telco operator.

OneWeb Chief Executive Neil Masterson said the Eutelsat funding means OneWeb has secured 80% of the financing it needs . . .

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