PARIS, 6 October 2021 (Eutelsat PR) – Eutelsat Communications (Euronext Paris: ETL) has exercised a call option on a portion of the latest OneWeb funding round subscribed by Bharti, for a consideration of $165 million, taking its shareholding from 17.6% to 22.9%.
The transaction was undertaken on identical financial terms to Eutelsat’s initial investment of $550 million announced in April and completed on 8 September. The completion of this latest transaction is expected around year-end 2021 subject to regulatory authorisations.
Since Eutelsat’s initial investment, OneWeb has gained significant traction, both operationally, with a 100% launch success rate leading to nearly half of the constellation now in orbit, and commercially, with numerous distribution partnerships secured ahead of its partial entry into service, which remains on track for end-2021.
South Korea plans to invest more than $14.25 billion over the next decade to improve its military and civil space capabilities. The Republic of Korea will transfer satellite and launch vehicle technology to the private sector to boost the nation’s domestic capabilities and improve its international competitiveness. The nation is also deepening defense and civil space cooperation with the United States.
South Korea has set an October date for the maiden flight of the nation’s first fully domestically developed satellite launch vehicle, the Korea Aerospace Research Institute (KARI) announced. Minister of Science, ICT and Future Planning Hyesuk Lim approved KARI’s plan to conduct flight tests of the new Nuri booster from the Naro Space Center on Oct. 21 and May 19, 2022 .