Skip to content
Search

Latest Stories

OneWeb-Eutelsat set for secondary listing at London Stock Exchange

The move that could help recover Britain’s status as a hotspot for tech listings

OneWeb-Eutelsat set for secondary listing at London Stock Exchange
Easterneye.Biz Staff
By Easterneye.Biz StaffMar 29, 2023
Easterneye.Biz Staff
See Full Bio

A combined company of London's OneWeb and French satellite firm Eutelsat Communications SA is set to list on the London Stock Exchange this year, a move that could help recover Britain's status as a hotspot for tech listings, The Times reported on Tuesday (28).

A secondary listing was a commitment negotiated by ministers as part of plans for OneWeb to merge with Eutelsat, the newspaper reported, quoting Indian billionaire investor and OneWeb's executive chairman Sunil Bharti Mittal.

The companies had announced a deal to merge last year, when OneWeb was valued at $3.4 billion (£2.75 bn).

London is facing the risk of losing its appeal for stock-market listings. Earlier this month, UK chip designer Arm announced its decision to list only in New York, triggering calls for faster reforms to help the capital's financial district compete better in global tech listings.

Eutelsat and OneWeb did not immediately respond to requests for comment.

(Reuters)

oneweblondon stock exchangeeutelsat

Related News

Sanjay Bhandari's extradition appeal opens in London
Business

Sanjay Bhandari's extradition appeal opens in London

Rupert Murdoch looks on as he walks on the day of the hearing on the contentious matter of succession of Rupert Murdoch's global television and publishing empire, in Reno, Nevada, US, September 23, 2024. (Photo: Reuters)
Business

Murdoch's bid to secure eldest son's control of media empire fails

Kamlesh Pattni faces UK sanctions for illicit gold trade
Business

Kamlesh Pattni faces UK sanctions for illicit gold trade

Sanjay Malhotra speaks during the 67th Foundation Day of the Directorate of Revenue Intelligence (DRI) in New Delhi on December 4, 2024. (Photo: Getty Images)
Business

India appoints Sanjay Malhotra as new central bank governor

EasternEye

More For You

IMF

IMF cuts global growth outlook as oil shock from Middle East war raises recession risks

REUTERS

IMF cuts global growth outlook as oil shock from Middle East war raises recession risks

  • IMF lowers global growth forecast to 3.1 per cent from 3.3 per cent.
  • Severe scenario could see growth fall below 2 per cent, near recession levels.
  • Oil shock and supply disruption driving inflation and economic uncertainty.

The International Monetary Fund has lowered its global growth forecast, warning that the ongoing conflict in the Middle East and the resulting oil shock could push the world economy closer to a downturn if disruptions continue.

In its latest World Economic Outlook, the IMF now expects global GDP to grow by 3.1 per cent this year, down from its earlier estimate of 3.3 per cent. The revision reflects rising energy prices and uncertainty following the US-Israeli attack on Iran that began on February 28.

Keep ReadingShow less