Eutelsat and SES to Receive Over $6 Billion for Satellite Service Migration in the U.S.
Eutelsat and SES to Receive Over $6 Billion for Satellite Service Migration in the U.S.
Eutelsat and SES have announced they will receive more than $6 billion from the U.S. government for the migration of satellite services, following a decision by the FCC to reallocate spectrum for advanced mobile services.
The Federal Communications Commission (FCC) has allocated 160 MHz of the upper C band spectrum to facilitate the transition, ensuring the continuity of essential satellite operations. Eutelsat is set to receive approximately €443 million before taxes, alongside full reimbursement of migration costs, while SES will obtain $5.6 billion contingent upon meeting deadlines in 2027, 2030, and 2031. Following the announcement, Eutelsat’s stock rose by 6.9%, and SES’s shares increased by 6% in early trading.
For journalistic integrity, this report was summarized from: boursorama.com