Eutelsat mulls sale of ground network

France-based satellite operator Eutelsat Group has confirmed it is mulling over options over the sale of its ground network to external infrastructure investors, following reports.

Source: Eutelsat Group

The company said the review of a potential sale for its ground station network is currently “preliminary in nature” and there can be no certainty on whether it will lead to a specific outcome.

US trade Bloomberg first reported the news last week on May 3, claiming the company is working with advisers to seek a buyer for the assets.

According to the publication, the sale could value to more than €800 million.

Eutelsat said it will reveal more details only if and when this analysis materialises into a potential transaction.

Eutelsat Communications combined with UK satellite operator OneWeb to form the Eutelsat Group before the end of last year. As part of the merge, OneWeb operates a subsidiary operating commercially as Eutelsat, with its centre of operations remaining in London.

The combined entity is expected to grow at a double-digit revenue CAGR over the medium to long-term, reaching €2bn in 2027. With adjusted EBITDA for the combined predicted to hit a double digit CAGR over the same period.

Eutelsat’s European rival SES also recently announced it will be combine with Intelsat, with it acquiring the satellite company in a US$3.1 billion deal.