As Bloomberg Intelligence analyst John Davies put it, a “merger of equals” would benefit OneWeb more than cash-generating Eutelsat. Eutelsat has relied for too long on the dependable cash flow but declining growth of traditional satellite TV revenue. Group sales have fallen from about 1.5 billion euros ($1.5 billion) in 2016 to 1.2 billion euros last year, according to Bloomberg data. Lionel Laurent is a Bloomberg Opinion columnist covering digital currencies, the European Union and France. Chris Hughes is a Bloomberg Opinion columnist covering deals.

Source: Washington Post July 26, 2022 05:21 UTC