Eutelsat, Oneweb Merge to Become Space Connectivity Powerhouse

In a ground-breaking development, Eutelsat and OneWeb have joined forces to create the world's inaugural GEO-LEO integrated satellite communications entity, the Eutelsat Group. This strategic merger aims to revolutionize space communications and cater to the rapidly expanding connectivity market. 

Bharti Enterprises will emerge as the principal shareholder in the newly merged entity, securing a substantial 21.2 per cent stake. The Bharti Group's commitment to becoming a long-term strategic investor in the Eutelsat Group underscores the transformative potential of this merger. 

Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, is set to assume the role of Vice-President (Co-Chair) of the Board of Directors within the Eutelsat Group. His vision and leadership are expected to play a pivotal role in steering the company towards success. Shravin Bharti Mittal, who played a key role in rescuing OneWeb from Chapter 11, will take up the position of Director on the Board of Eutelsat, further strengthening the leadership team. Akhil Gupta, who has been an influential figure in OneWeb's journey, will continue to serve as a Director on the Board of OneWeb, which now operates as a wholly-owned subsidiary of Eutelsat. 

While Eutelsat's headquarters remain in Paris, the operational arm of OneWeb will operate commercially under the name "Eutelsat OneWeb" with its central hub remaining in London. The company will continue to be publicly listed on the Euronext Paris Stock Exchange and has applied for standard listing on the London Stock Exchange. 

The creation of the Eutelsat Group signifies a significant leap in space connectivity capabilities, with the integration of geostationary (GEO) and low Earth orbit (LEO) satellite technologies. This synergy is set to unlock new possibilities in bridging the digital divide and advancing global connectivity goals. 

Sunil Bharti Mittal expressed his enthusiasm for this historic venture, saying, "Closing the digital divide is a critical mission for achieving the UN Sustainable Development Goals, and this combination will synergize the efforts of both the businesses and will accelerate our progress. Today we have created a company, which will bring connectivity to all people around the world and will help us achieve our mission of last-mile connectivity." 

This monumental merger between Eutelsat and OneWeb underscores the pivotal role satellite communications will play in extending connectivity to remote and underserved regions across the globe. With the Eutelsat Group at the helm, the future of space-based connectivity looks brighter than ever, promising to reach even the farthest corners of the digital world.