France Aims for Global Collaboration with Eutelsat Expansion

French President Emmanuel Macron announced his intention to bring more international partners into the satellite company Eutelsat. This move is part of a broader initiative to reinforce France's standing in the competitive space sector.

With the French state on track to become Eutelsat's largest shareholder, following a 1.35 billion-euro ($1.55 billion) capital increase, the country is strategically positioning the company to take on global giants such as Elon Musk's Starlink.

The financial ministry has indicated that this capital boost will bolster Eutelsat's competitiveness, reflecting France's commitment to maintaining a significant presence in the technological advancements of the satellite industry.

(With inputs from agencies.)