Eutelsat's Bold Euro 1.35 Billion Capital Expansion: Securing Europe's Space Sovereignty
Eutelsat plans a capital increase of €1.35 billion, anchored by major shareholders to execute its long-term strategic vision. Emphasized by French state backing under President Macron, Eutelsat's collaboration with the French armed forces highlights its significant role. The company is set to enhance its competitive edge in the LEO market.
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In a significant move, Eutelsat has announced a planned capital increase of €1.35 billion to support its long-term strategic vision. Backed by major shareholders, including the French state, this investment aims to position Eutelsat as a key player in Europe's space industry. Sunil Bharti Mittal, Co-Chairman of Eutelsat, expressed enthusiasm over the French government's decision to boost its shareholding, lauding it as a major endorsement for the company.
Eutelsat has also entered into a significant long-term partnership with France's Ministry of the Armed Forces, enhancing its role in providing critical low-Earth orbit (LEO) satellite capacity. This deal, valued at €1 billion, underscores Eutelsat's strategic importance in the defense and connectivity sectors, as well as its ability to capitalize on the growing potential of LEO technology.
Eutelsat's position is bolstered further by its acquisition of OneWeb, regulatory approvals, and network expansion, aiming for full coverage by 2026. As Europe's only operator with an operational LEO network, Eutelsat is poised to drive connectivity advancements in sectors like military communications and cyber-resilience, in line with European and NATO objectives for strategic autonomy.
(With inputs from agencies.)
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