(CercleFinance.com) – Eutelsat Communications announces that following the approval of its AGM, its merger with OneWeb, a global satellite telecommunications network in low orbit (LEO), is now effective and gives birth to Eutelsat Group.
OneWeb will be a subsidiary operating commercially under the name Eutelsat OneWeb and will retain its operational center in London. Eutelsat remains listed in Paris and has filed an application for admission to the standard segment of the London Stock Exchange.
‘Thanks to OneWeb’s LEO constellation, already in service and expected to be operational globally by the end of 2023, the combined GEO-LEO services will open up new markets and new applications for customers’, underlines -he.
The combined entity expects a double-digit CAGR for its turnover over the medium-long term, which is expected to amount to around two billion euros in 2027, and a double-digit CAGR over the same period, outpacing growth of sales, for its adjusted EBITDA.