It is a welcome impulse. The British government will inject 163 million euros in the European Operator Eutelsat, competitor of the Elon Musk Starlink satellites, to invest together with the French state, we learned from Elysée on Thursday during a state visit to Emmanuel Macron in the United Kingdom.
Second World Satellite operator in low orbit, which allows operating telecommunications services, Eutelsat often occurs as a European alternative to Starlink, from the American company Spacex, owned by Elon Musk.
A “sovereignty participation” according to Macron
Eutelsat announced on June 19 a capital increase of 1.35 billion euros that will make the French State become the first shareholder of the group and that in particular it should allow the renewal of its satellite fleet. The State, already a shareholder of up to 13%, will increase its participation by 717 million euros, said the cabinet of the Minister of Economy Éric Lombard. This will lead him to maintain 29% of the company’s shares, through the State Participation Agency (APE), at the end of this operation, which should lead “at the end of 2025,” according to Eutelsat.
The London investment announced on Thursday is in proportion to the current participation of the United Kingdom in capital, of 10.9%.
He had hit last month, at the Bourget Aeronautics Fair, which the emergence of the French State with the capital of the satellite operator is a “problem of sovereignty.” With a constellation of more than 600 satellites since its merger with the British Oneweb in 2023, the group seeks to develop the contract segment with new state clients.
Three other shareholders of the group, the French shipowner CMA-CGM, the Indian operator Bharti Airtel, as well as the Strategic Participation Fund (FSP) held by seven French insurers, are also involved in this capital increase that will take place in two phases, with an increase reserved in capital and a preferential subscription to the right, open to other shareholders.
Source: BFM TV
