Skip to content

Eutelsat in Talks to Combine With UK Satellite Rival OneWeb

  • Deal set to be latest in race to offer low-orbit connections
  • Europe aims for satellite offering to rival Elon Musk’s SpaceX
An Ariane 5 rocket carrying Eutelsat telecommunications satellites lifts off from its launchpad in Kourou, at the European Space Center in French Guiana, in 2020.

An Ariane 5 rocket carrying Eutelsat telecommunications satellites lifts off from its launchpad in Kourou, at the European Space Center in French Guiana, in 2020.

Photographer: Jody Amiet/AFP/Getty Images
Updated on

Eutelsat Communications SA is in talks about a combination with UK satellite rival OneWeb Ltd., a step toward creating a European champion to rival the likes of Elon Musk’s SpaceX.

Eutelsat and OneWeb shareholders will each hold 50% of the combined group, with OneWeb shareholders receiving newly issued Eutelsat shares, the French company said in a statement Monday. The deal, first reported by Bloomberg on Friday, could be valued at more than $3 billion, people familiar with the matter had said.