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Intelsat announces a “conditional combination agreement” with OneWeb

OneWeb Satellites Factory

Intelsat announced a “conditional combination agreement” with OneWeb this morning.

Under the agreement, the two companies would merge in a stock transaction, with Japanese technology company SoftBank investing $1.7 billion to reduce Intelsat’s debt.

Intelsat shares soared Monday on news the company was in talks for such a merger.

Intelsat’s shares rose by 25 percent, closing at its highest level since late 2015, after reports that SoftBank was leading discussions about a merger of the two satellite operators.

SoftBank led OneWeb’s $1.2 billion financing round announced in December, while Intelsat is one of OneWeb’s original investors. [Intelsat / SpaceNews / Sky News]


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Intelsat announces a “conditional combination agreement” with OneWeb

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