Satellite operator Eutelsat (ETL.PA) said on Monday it expected to receive $504 million in incentive payments under a U.S. plan to free up airwaves for faster mobile and wireless services.
The U.S. Federal Communications Commission has approved a framework to move satellite services out of part of the C-band radio spectrum, allowing 160 megahertz of capacity to be used by telecoms companies for next-generation wireless networks.
Eutelsat said the payment, expected in 2031, depends on it completing the move within deadlines set for 2030 and 2031 while maintaining service for customers. The Paris-based company will also be reimbursed for costs linked to the transition.
