UK Strengthens Stake in Eutelsat with €163.3 Million Investment

The United Kingdom has reinforced its commitment to the Paris-headquartered satellite communications company, Eutelsat, with a €163.3 million investment, securing a 10.89% stake. This strategic move, highlighted in a company statement released on Thursday, is part of a broader initiative to raise €1.5 billion, fueling Eutelsat's long-term vision.

France's Agence des Participations de l'Etat, Bharti Space Limited, CMA CGM, FSP, among others, also contribute to Eutelsat's investment pool. French President Emmanuel Macron, currently on a state visit to the UK, expressed gratitude, stating, 'Thanks to our British friends as they continue to follow us on the Eutelsat adventure! Together we go further!'

Peter Kyle, the UK's Secretary of State for Science, Innovation and Technology, emphasized the economic significance of satellites, which underpin €364 billion worth of UK industrial activity. Sunil Bharti Mittal, Co-Chairman of Eutelsat Group, applauded the UK's partnership, recognizing the necessity of secure and reliable space connectivity solutions for governments.

(With inputs from agencies.)