Britain Boosts Satellite Ambitions with Eutelsat Investment
Britain announced a €163 million investment in the French satellite company Eutelsat to maintain its stake amid France's larger cash infusion. This move supports Eutelsat against SpaceX's Starlink, while also potentially paving the way for UK involvement in the EU's IRIS² project.
Britain has committed to investing €163 million in the French satellite firm Eutelsat, as reported by Les Echos, citing an Elysee source. This decision follows a larger cash infusion from France to bolster Eutelsat's position against competitors like SpaceX's Starlink.
During his state visit to the UK, French President Emmanuel Macron expressed gratitude on platform X for Britain's continued support in the 'Eutelsat adventure'. Macron emphasized the joint progress, stating, 'We're over the moon to keep going with you. Together we go further!'
The French state aims to become the dominant shareholder in Eutelsat through a €1.35 billion capital increase, supporting the debt-laden company. Britain's investment helps maintain its 10.9% share, potentially facilitating involvement in the EU's IRIS² satellite constellation project.
(With inputs from agencies.)
Google News