UK Joins Eutelsat's Satellite Surge: A New Era in Global Connectivity

The UK has made a significant investment in Eutelsat's 1.5 billion euro capital raising project, contributing 163.3 million euro. This injection bolsters the European satellite operator as it seeks to compete with Elon Musk's Starlink. The move is supported by the French government and Bharti Space's 150 million euro commitment.

The Reserved Capital Increase, involving an 828 million euro infusion, and a subsequent Rights Issue of 672 million euro, form the basis of this financial strategy. France's state investment via APE, Bharti Space, CMA CGM, FSP, and the UK Government, are key contributors to this funding effort.

Eutelsat is on a mission to challenge Starlink's dominance by enhancing its satellite infrastructure. The expansion is a critical part of the evolving satcom sector, with Eutelsat pushing for collaboration among global partners to cement its position as a leading provider of both low-Earth and geostationary orbit services.

(With inputs from agencies.)