March 28 (Reuters) - 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.
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.
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 Reuters
requests for comment.
(Reporting by Anirudh Saligrama in Bengaluru; Editing by Shilpi
Majumdar)
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