PARIS--(BUSINESS WIRE)--Regulatory News:
Eutelsat Group (ISIN: FR0010221234 - Euronext Paris / London Stock Exchange: ETL) has completed the sale of OneWeb’s 50% share in the Airbus OneWeb Satellites joint venture.
The stake in the Florida-based business, which built the satellites for the OneWeb First Generation constellation, is being acquired by co-owner, Airbus U.S. Space & Defense, Inc.
The agreement reflects Eutelsat Group’s ongoing management of its assets with a view to optimizing and monetizing its portfolio as part of its debt reduction efforts.
Massimiliano Ladovaz of Eutelsat Group said: “We are proud to have partnered with Airbus in this joint venture which has assured the successful build of OneWeb’s First Generation constellation, and we are confident the business will continue to thrive by addressing the growing demand for small sats, with a best-in-class, competitive offer. Looking ahead, Eutelsat Group will benefit from being able to call on a more diversified range of suppliers for its future in-orbit needs, including Airbus which remains one of our most trusted partners.”
About Eutelsat Communications
Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of Eutelsat and OneWeb in 2023, becoming the first fully integrated GEO-LEO satellite operator with a fleet of 36 Geostationary satellites and a Low Orbit earth constellation of more than 600 satellites. The Group addresses the needs of customers in four key verticals of Video, where it distributes more than 6,500 television channels, and the high-growth connectivity markets of Mobile Connectivity, Fixed Connectivity, and Government Services. Eutelsat Group’s unique suite of in-orbit and on-ground assets enables it to deliver integrated solutions to meet the needs of global customers. The Company is headquartered in Paris and Eutelsat Group employs more than 1,700 from 50 different nationalities. The Group is committed to delivering safe, resilient, and environmentally sustainable connectivity to help bridge the digital divide. The Company is listed on the Euronext Paris Stock Exchange and the London Stock Exchange (ticker: ETL).
Find out more at www.eutelsat.com/oneweb
