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SES completes O3b acquisition

O3b_LOGOSatellite operator SES has completed the acquisition of 100% of O3b Networks.

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.