PARIS — Hughes Network Systems’ decision to pay $100 million for 20% of a joint venture with United Arab Emirates fleet operator Yahsat to provide Ka-band broadband in Africa and western Asia offers a rare valuation event for an industry where consolidation, in one form or another, is seen as inevitable.

Especially since its purchase of fellow UAE operator Thuraya, which operates a near-global mobile satellite services business in L-band, Yahsat is a strategic asset for the UAE government and is unlikely to be offered for sale, even if Hughes’s . . .

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