(CercleFinance.com) – Eutelsat announced on Friday the admission today of its shares to trading on the standard market of the London Stock Exchange following the finalization of its merger with OneWeb, completed this week.
Eutelsat yesterday formalized the closing of its merger with OneWeb, a specialist in low-orbit (LEO) satellite telecommunications, following the approval of its shareholders.
This merger gives rise to Eutelsat Group listed in London under the mnemonic ‘ETL’, as in Paris.
‘Eutelsat is among the rare listed companies to offer exposure to the space sector,’ underlined its managing director, Eva Berneke.
‘Our admission to the London Stock Exchange will enable a large number of investors and shareholders to participate in this exciting challenge,’ she added.
The new group, which will retain its head office in Paris, has confirmed that it expects double-digit compound annual growth in its turnover over the medium to long term, with a target set at around two billion euros. by 2027.
Its adjusted operating profit (Ebitda) is also expected to grow at a double-digit rate over the period, while outpacing sales growth.