UK's Strategic Satellite Investment: Strengthening Space Ties with France

As part of an effort to bolster its trade and migration cooperation with France, Britain announced a significant investment of 163 million euros in the French satellite company Eutelsat on Thursday. This strategic move was revealed during a London summit coinciding with the state visit of French President Emmanuel Macron.

The British government's decision to maintain its 10.89% stake in Eutelsat signifies a commitment to the satellite market, which currently sees competition from Elon Musk's Starlink. In a parliamentary statement, the UK government highlighted the investment's goals: enhancing national security, increasing the country's footprint in the low Earth orbit sector, and fortifying the domestic space industry.

Technology Minister Peter Kyle underscored the growing importance of robust space capabilities. Meanwhile, France's recent 1.35 billion-euro investment in Eutelsat signals its aim to become the largest shareholder, surpassing Bharti Space, owned by Indian billionaire Sunil Mittal.

(With inputs from agencies.)