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1713291

registered interest
date	23/04/2024
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Eutelsat OneWeb: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what is their (1) current, and (2) expected future, equity stake in US satellite technology company Eutelsat OneWeb (formerly OneWeb).
tabling member printed	Lord Mendelsohn
uin	HL4032
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>Eutelsat OneWeb is a UK-based subsidiary of Eutelsat Group. The Government has no plans to change its 10.89% shareholding in Eutelsat Group at this time.</p> answering member printed Viscount Camrose question first answered 08/05/2024 12:08:59 answering member 4939 label Biography information for Viscount Camrose
tabling member	4286 label Biography information for Lord Mendelsohn

1713292

registered interest
date	23/04/2024
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Eutelsat OneWeb: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, according to their business plan justifying their investment in US satellite technology company OneWeb in 2020, what projection they made of the value of the company at the end of 2024.
tabling member printed	Lord Mendelsohn
uin	HL4033
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>As was the case under previous governments, any investment case informing Government's decision to invest in OneWeb, including financial projections, remains commercially sensitive. As a publicly traded company, Eutelsat Group regularly publishes its financial results, including market guidance on their outlook and financial objectives, and the latest were published on 16 February 2024.</p> answering member printed Viscount Camrose grouped question UIN HL4034 question first answered 08/05/2024 12:07:55 answering member 4939 label Biography information for Viscount Camrose
tabling member	4286 label Biography information for Lord Mendelsohn

1713293

registered interest
date	23/04/2024
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Eutelsat OneWeb: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they will publish (1) their original investment case, including financial projections, for the purchase of a $500 million stake in US satellite technology company OneWeb in 2020; and (2) an updated business case and financial projections for their investment in the company.
tabling member printed	Lord Mendelsohn
uin	HL4034
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>As was the case under previous governments, any investment case informing Government's decision to invest in OneWeb, including financial projections, remains commercially sensitive. As a publicly traded company, Eutelsat Group regularly publishes its financial results, including market guidance on their outlook and financial objectives, and the latest were published on 16 February 2024.</p> answering member printed Viscount Camrose grouped question UIN HL4033 question first answered 08/05/2024 12:07:55 answering member 4939 label Biography information for Viscount Camrose
tabling member	4286 label Biography information for Lord Mendelsohn

1712639

registered interest
date	22/04/2024
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Eutelsat OneWeb: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what is the current value of the Government's stake in Eutelsat OneWeb.
tabling member printed	Lord Mendelsohn
uin	HL4000
answer	answer is ministerial correction date of answer 07/05/2024 answer text <p>Eutelsat OneWeb is a UK-based subsidiary of Eutelsat Group. At close of trading on 26 April 2024, the market value of the UK Government’s shareholding in Eutelsat Group was approximately €201 million or £171 million.</p><p>The Government’s investment into OneWeb has already created or protected around 400 UK jobs and Eutelsat OneWeb continues to ramp up commercial operations, with an order book of approximately €700m according to the company’s public filings.</p> answering member printed Viscount Camrose question first answered 07/05/2024 12:30:35 answering member 4939 label Biography information for Viscount Camrose
tabling member	4286 label Biography information for Lord Mendelsohn

1712640

registered interest
date	22/04/2024
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Eutelsat OneWeb: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether any additional equity or debt has been earmarked for further investment in Eutelsat OneWeb, following the Government's $500 million investment in 2020.
tabling member printed	Lord Mendelsohn
uin	HL4001
answer	answer is ministerial correction date of answer 07/05/2024 answer text <p>Eutelsat OneWeb is a UK-based subsidiary of Eutelsat Group. The Government has not earmarked any additional equity or debt for investment into Eutelsat Group.</p> answering member printed Viscount Camrose question first answered 07/05/2024 12:34:54 answering member 4939 label Biography information for Viscount Camrose
tabling member	4286 label Biography information for Lord Mendelsohn