Eutelsat, the French operator of geostationary satellites, has set a shareholder vote for September 28th to finalize its acquisition of OneWeb. This comes after receiving clearance from all regulatory bodies involved in the multi-orbit merger. If Eutelsat’s shareholders vote in favor of the transaction, the all-share deal for the British Low Earth Orbit (LEO) broadband network is expected to be completed shortly after the meeting.

Major shareholders, collectively holding 49.4% of Eutelsat as of March 31st, have already expressed their support for the merger. OneWeb’s shareholders had previously approved the deal, which valued the company at $3.4 billion.

Unlike other recent satellite acquisitions, the OneWeb deal did not face regulatory scrutiny in Europe, as there were no concerns about increased prices or reduced quality of services. Eutelsat already owns 23% of OneWeb and has gradually increased its stake in the company as part of its strategic expansion into connectivity services.

The combination of the two fleets would create a network that utilizes geostationary satellites for specific regions, along with smaller LEO satellites for lower-latency global services. OneWeb has recently completed the deployment of its LEO constellation, consisting of 634 satellites.

Following the successful merger, Eutelsat and OneWeb will work together on a second-generation network with a planned launch in early 2028. The British government, which has a stake in OneWeb, will retain priority voting rights after the merger. The merger could also impact Eutelsat’s participation in Europe’s planned multi-orbit connectivity constellation.

Eutelsat’s expansion into connectivity services is expected to reverse the company’s declining annual sales, paving the way for future growth in the industry.

Definitions:
– Geostationary satellites: Satellites placed in geostationary orbit, meaning they remain fixed relative to the Earth’s surface.
– Low Earth orbit (LEO): A region in space closer to Earth than geostationary orbit.
– Multi-orbit merger: The consolidation of satellite networks with operations in different orbits.
– Regulatory clearances: Approvals from government bodies and regulatory authorities.
– Connectivity services: Services that provide internet and communication links to users.
– Satellite constellation: A network of satellites working together to provide coverage or services.

Source: [SpaceNews](https://spacenews.com/eutelsat-plans-sept-28-shareholder-vote-on-oneweb-takeover/)

The post Eutelsat Shareholder Vote Scheduled for OneWeb Takeover appeared first on TS2 SPACE.