Britain Boosts Eutelsat Investment Amid Space Race
Britain invests €163.3 million in satellite operator Eutelsat, joining France’s larger financial commitment to bolster the company's competitiveness against SpaceX's Starlink. This investment aims to enhance Europe’s sovereign satellite capabilities amidst geopolitical tensions. The total recapitalization of Eutelsat will amount to €1.5 billion.
In a strategic move, Britain has announced a €163.3 million investment in satellite operator Eutelsat. This investment complements a larger financial package from France, designed to strengthen Eutelsat's position against SpaceX's Starlink as Europe intensifies efforts to advance sovereign satellite capabilities amid global uncertainties.
On his visit to Britain, French President Emmanuel Macron expressed gratitude for the investment, as Eutelsat shares surged by 10% in Paris. The French government is set to become the largest shareholder in Eutelsat, committing €750 million to increase its stake, thereby continuing its support for the indebted company.
Britain's participation allows it to sustain its influence in European space policy, retaining its 'golden share' in Eutelsat's subsidiary OneWeb. This deal may further facilitate Britain's involvement in the EU's IRIS² satellite project, a promising development for the region's space endeavors.
(With inputs from agencies.)
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- Eutelsat
- Britain
- France
- satellite
- investment
- SpaceX
- Starlink
- Europe
- OneWeb
- recapitalization
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