Report: OneWeb, Intelsat Merger in the Works

An interesting story from Sky News:

The Japanese technology investor SoftBank is hatching plans for a multi-billion dollar merger of two major satellite companies – OneWeb and Intelsat – in a deal that would create a global powerhouse in the fast-changing arena of space technology.

Sky News has learnt that discussions involving a combination of OneWeb – shareholders in which include Airbus, The Coca-Cola Company and Virgin Group – and Intelsat are at an advanced stage.

Intelsat is also a small shareholder in OneWeb.

One source indicated that a deal could be outlined when Intelsat, which is listed in New York, reports financial results on Tuesday.

If the talks are successfully concluded, an announcement would come just two months after SoftBank invested $1bn in OneWeb, a move designed to help it build the world’s first high-volume satellite production facility in Florida.