Bloomberg

Eutelsat, OneWeb Agree $3.4 Billion Deal to Rival SpaceX

Eutelsat Communications SA and OneWeb Ltd. are set to combine in an all-share deal valuing the UK satellite operator at $3.4 billion, a step toward creating a European champion to rival the likes of Elon Musk’s SpaceX. OneWeb shareholders will hold 50% of Eutelsat, which will continue to be listed in Paris and will ask to be listed on the London Stock Exchange.  Both the UK and French governments have stakes in OneWeb and Eutelsat respectively, and the UK will continue to own a special share, giving it certain veto rights over strategic decisions such as the location of the firm’s headquart