Eutelsat Communications SA, a prominent player in the satellite industry, has successfully merged with OneWeb, a global low Earth orbit (LEO) satellite communications network, marking a significant milestone in the world of space connectivity. This historic merger brings together two satellite giants to form the world’s pioneering GEO-LEO integrated satellite conglomerate, aptly named the Eutelsat Group. The venture is poised to revolutionize space communications and cater to the burgeoning demand for global connectivity.
Bharti Enterprises, a leading conglomerate, takes the helm as the largest shareholder in the newly formed entity, securing a substantial 21.2 percent ownership stake. Their commitment to being a long-term strategic investor in the Eutelsat Group underscores the potential for substantial growth and innovation in the satellite industry. Sunil Bharti Mittal, the Founder and Chairman of Bharti Enterprises, will assume the role of Vice-President (Co-Chair) on the Board of Directors for Eutelsat Group, while Shravin Bharti Mittal, instrumental in revitalizing OneWeb from Chapter 11, will serve as a director. Notably, Akhil Gupta will maintain his position as a Director on the Board of OneWeb, now a wholly-owned subsidiary of Eutelsat.
Under the umbrella of Eutelsat Group, OneWeb will operate as Eutelsat OneWeb, with its operational center remaining in London. The Company retains its listing on the Euronext Paris Stock Exchange and has applied for standard listing on the London Stock Exchange. This strategic alignment brings together the strengths and capabilities of both entities, promising enhanced space connectivity solutions worldwide.
Sunil Bharti Mittal expressed his enthusiasm about bridging the digital divide, emphasizing that this merger aligns with the UN Sustainable Development Goals. He underscored the shared mission of the newly formed company to provide global connectivity, particularly in underserved regions. Bharti Enterprises looks forward to extending its services in India and expanding its reach to other countries in the global south, thereby enabling those left behind by the Digital Revolution to partake in the benefits of the connected world.
The merger between Eutelsat and OneWeb heralds a new era in space connectivity. As the Eutelsat Group, they are poised to reshape the landscape of global communication, striving to make digital inclusion a reality for people around the world. This merger not only signifies a remarkable business alliance but also a step forward in achieving universal connectivity and sustainable development goals.