Page 36 - SAMENA Trends - October 2021

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Eutelsat Raises its Shareholding in OneWeb

Eutelsat Communications (Euronext of the call option and the completion of Commenting on the transaction, Rodolphe
Paris: ETL) has exercised a call option Hanwha’s investment, Eutelsat’s 22.9% Belmer, Eutelsat’s Chief Executive Officer
on a portion of the latest OneWeb holding will make it the second largest stated: “We are hugely excited to grasp this
funding round subscribed by Bharti, for a shareholder behind Bharti with 30.0%, opportunity to deepen our commitment to
consideration of $165 million, taking its thereby strengthening its position as a OneWeb. The significant progress it has
shareholding from 17.6% to 22.9%. The key shareholder and partner of OneWeb. made in the run-up to its now imminent
transaction was undertaken on identical Eutelsat’s investment comes after it entry into service, together with the
financial terms to Eutelsat’s initial delivered a strong FY 2021 performance vote of confidence demonstrated by the
investment of $550 million announced in in terms of cash flow generation and commitment of both its investors and
April and completed on 8 September. The leverage reduction, and is compliant with future customers, makes us even more
completion of this latest transaction is Eutelsat’s financial framework. At 30 June convinced of OneWeb’s right-to-win in
expected around year-end 2021 subject to 2021, Eutelsat’s liquidity amounted to the low earth orbit (LEO) constellation
regulatory authorizations. Since Eutelsat’s €1.9bn in cash and undrawn credit lines. segment.”
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. In the
meantime, as already announced by the
company, OneWeb’s capital structure
has been further strengthened with an
additional $500 million commitment
by Bharti completing the funding of its
first-generation constellation and a
$300 million capital injection from South
Korea’s Hanwha. Following the exercise

Eutelsat’s EUTELSAT 9B Satellite Selected by Zeonbud to Extend Its
Broadcast Coverage Throughout Ukraine

Eutelsat Communications’ popular 9° East position has been 40% of the population and covers 95% of the territory. Through
selected by Zeonbud to assure the distribution of its high-quality this long-term contract it will leverage the unparalleled coverage
broadcast content in Ukraine. Zeonbud Limited is the nation- of the EUTELSAT 9B satellite over Ukraine to feed its DTT network,
wide licensed Digital Terrestrial Television operator transmitting and potentially extend its offer to a DTH service beyond the reach
Ukraine’s 33 major channels covering a wide range of quality of its existing tower infrastructure. The 9° East orbital location is
broadcast content. Launched in 2010, it reaches approximately home to a powerful satellite optimized for broadcast services and
representing an ideal platform for channels seeking maximum
reach into satellite homes and to terrestrial head-ends in the high-
growth digital TV markets within its footprint, notably Ukraine.
Commenting on the agreement, Philippe Oliva Eutelsat’s Chief
Commercial Officer said: “We are excited to welcome Zeonbud with
its high-quality content offer as part of our line-up on EUTELSAT
9B, further consolidating our position in the dynamic Ukrainian
Broadcast market.” Irina Alyabyeva, Zeonbud’s Chief Executive
Officer, added: “We are delighted to partner with Eutelsat and
leverage the 9° East position to ensure the best quality of service
delivery of our of national channels to our viewers, and access the
optionality of extending our reach through alternative distribution
models.”
36 OCTOBER 2021