French satellite tv for pc agency Eutelsat raises stake in UK firm OneWeb

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PARIS, Oct 6 (Reuters) – French satellite tv for pc firm Eutelsat (ETL.PA), which rejected a takeover proposal from billionaire Patrick Drahi, stated it had raised its stake in London-headquartered communications community firm OneWeb to 22.9%.

“Eutelsat Communications 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%,” it stated on Wednesday.

Last month, Drahi, whose enterprise pursuits embrace public sale home Sotheby’s and media group Altice, made a 12.10 euros per share supply for Eutelsat, which was rejected. learn extra

Reporting by Sudip Kar-Gupta; modifying by Jason Neely