SES said it will fully consolidate the broadband satellite company in its accounts from now on.
SES agreed in July to pay US$730 million to increase its stake in O3b Networks from 49.1% to 100%. The transaction sees SES consolidate US$1.2 billion of additional debt.
According to SES, O3b will expand its global reach and will build the foundations for sustainable growth. The company operates a fleet of medium Earth orbit satellites designed to deliver broadband connectivity via Ka-band capacity.