Eutelsat already has a 23% stake in OneWeb and is its second largest shareholder.

OneWeb was bought out of bankruptcy by the British government and India’s Bharti Global. ESA Yokogawa AQ6150B

Bharti has a 38.6% share in OneWeb, the British government has 19.3% and Softbank 12%.

After the merger it is reported that the British government will retain a say in supply chain and launch decisions and will hold rights to veto sales to clients deemed dangerous for security reasons, to veto a change in the location of headquarters and to veto business decisions that may compromise the “Five Eyes” intelligence alliance comprising Australia, Canada, New Zealand, the UK and the US.

OneWeb was valued at $3.4 billion in its most recent funding round.