Satellite Startup OneWeb, Intelsat to Merge

TOKYO—U.S. satellite startup OneWeb Ltd. said it would merge with restructuring satellite operator Intelsat SA, with Japan’s SoftBank Group Corp. injecting $ 1.7 billion into the combined entity.

The deal, which is subject to approval by Intelsat bondholders, aims to lower Intelsat’s debt by about $ 3.6 billion, while allowing OneWeb to expand its satellite production. The combined entity would offer a range of small to larger…

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