1 Min Read
Feb 28 (Reuters) - OneWeb Ltd, a U.S. satellite venture backed by SoftBank Group Corp, and debt-laden satellite operator Intelsat SA on Tuesday agreed to merge in a share-for-share deal.
SoftBank will invest $1.7 billion in the combined company as part of the deal.
Intelsat had a market value of about $630 million as of stock's Monday close. (Reporting by Narottam Medhora in Bengaluru; Editing by Sriraj Kalluvila)