A new European tycoon is rising. Elon Musk’s Starlink will have some serious competition

Two major companies from France and the UK have confirmed they will work together to create a global champion and global broadband provider, while becoming a major rival to Elon Musk’s Starlink. Will the European tycoon really shake the positions of the American billionaire company?

French satellite operator Eutelsat reached an agreement with the British OneWeb to build a huge consortium to provide broadband internet around the world, especially in the most isolated areas.

As it turns out, the total number of satellites that the new European player will have will not exceed a thousand. While Starlink there are over 2,000 satellites orbiting in low orbits, OneWeb he has “only” 428 of them. Eutelsat on the other hand, it is owned only by satellites located in high orbits around the Earth – their number is 35 and they are used to transmit television signals and other types of communication other than the Internet.

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The merger of the two companies will create a huge industry player that has satellites in various orbits and offers a wide range of services, the company said.

The European tycoon is pushing himself

The new company will have to contend with fierce competition – not just from the sidelines Elon Musk. Also Jeff Bezos will elbow in space. It recently announced that it will launch 3,200 satellites into space and spend $10 billion to do so.

However, China surpasses everyone with its plans. The Middle Kingdom plans to launch an incredible number into orbit 13,000 satellites. If the intentions of all the players in the world were successful, there is a chance that our skies will be dotted with small flying vehicles that we can see more easily than the stars.

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At the merger Eutelsat and OneWeb the last word has not yet been said – the merger of the two companies will go ahead, as many formal and legal hurdles must be cleared and regulatory approvals must be obtained.

So far, word of the planned merger has caused the French recording operator to hiccup giant stock market declines.

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