Reported 1 day ago
South Korea's Hanwha Systems has completely divested its 5.4% stake in Eutelsat for €77.6 million ($88.5 million) as the satellite operator seeks fresh investments to compete with SpaceX's Starlink. The move reflects Hanwha's strategic shift towards defense-related satellite operations, following significant losses in Eutelsat's video business and challenges with its OneWeb acquisition. Eutelsat is also undergoing management changes and exploring options to raise capital while facing upcoming competition in the satellite internet market.
Source: YAHOO