Eutelsat take stake in OneWeb
By Martin in Business
Updated 3 years ago
Eutelsat is taking a 24 per cent stake in UK/India-owned low Earth orbiting business OneWeb. Eutelsat will invest $500 million (€455.4m) in the company and which "almost" fully funds the satellite venture. Eutelsat will use its FCC-granted 'incentive' payment for giving up its C-band frequencies over the US to fund its stake.
