Telecom operator Veon confirms deal with British satellite firm OneWeb

<html xmlns=""><head><title>Telecom operator Veon confirms deal with British satellite firm OneWeb</title></head><body>

By Martin Coulter and Supantha Mukherjee

BARCELONA, March 1 (Reuters) -Telecom operator Veon VON.AS, which operates Ukraine's largest mobile network, has announced that it is partnering with British satellite firm OneWeb to improve connectivity in rural or disaster-prone areas.

The deal, one of the first cross-sector accords of its kind, will see OneWeb's satellites used to improve network coverage for Veon's customers, many of whom live in large areas with low-density populations, or are at a higher risk of disruption, such as Kazakhstan, Pakistan, and Ukraine.

The announcement confirms Reuters' earlier reporting on the deal. Veon will use OneWeb’s services for emergency purposes, offsetting damage to networks on the ground and extending coverage to rural areas.

"We have always stated that our focus is 4G for all, and our partnership with OneWeb enables us to take that one step further," said Veon CEO Kaan Terzioglu.

Veon’s Ukrainian unit, Kyivstar, already works with Elon Musk’s Starlink to bolster coverage across the war-ravaged country. The two companies are still negotiating fees for the coming year, however, after governments and other entities paid for the service through spring 2023.

OneWeb terminals provide connectivity to hundreds of people, and can be hooked up to existing power supplies, or run on solar power or via generators. The company has around 550 low-orbit satellites and plans to launch dozens more with the help of Musk-owned SpaceX.

"With this partnership, we can support the development of telecoms and digital infrastructure in emerging markets, working with Veon to ensure the essential roll-out of mobile connectivity," OneWeb CEO Neil Masterson said.

On Wednesday, OneWeb also announced it was partnering with fellow satellite firm Intelsat and telecom firm Sure South Atlantic to boost connectivity in the Falkland Islands and other British island territories.

French satellite firm Eutelsat is in the process of acquiring OneWeb, with the British government retaining a minority stake in the company.

Reporting by Martin Coulter and Supantha Mukherjee; Editing by Sharon Singleton


Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

We are using cookies to give you the best experience on our website. Read more or change your cookie settings.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.