Eutelsat has committed additional cash to the LEO satellite internet technology developer, increasing its stake to 22.9% to become its second largest shareholder.
Satellite operator Eutelsat Communications exercised a call option today having agreed to pay $165m to hike its stake in UK-headquartered satellite internet service provider OneWeb from 17.6% to 22.9%.
The deal is set to close later this year and was part of the $500m call option agreed by conglomerate Bharti Enterprises in June this year. The terms were identical to a $550m round backed by Eutelsat two months before, and Eutelsat will be OneWeb’s second largest shareholder, after…
