Intelsat-OneWeb satellite merger falls apart

Image: Satellite web

An artist’s conception shows a constellation of satellites in orbit. (Credit: OneWeb)

The OneWeb satellite venture says it has terminated its deal for a mega-merger with Intelsat because not enough of Intelsat’s bondholders agreed to a debt swap. The deal would have been facilitated by a $1.7 billion investment from Softbank, but it was contingent on a go-ahead from at least 85 percent of the bondholders.

Get the news brief on GeekWire.

About Alan Boyle

Award-winning science writer, creator of Cosmic Log, author of "The Case for Pluto: How a Little Planet Made a Big Difference," president of the Council for the Advancement of Science Writing. Check out "About Alan Boyle" for more fun facts.
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