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| France will be the largest investor in satellite operator Eutelsat |
| Paris, 20.06.2025 |
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| The French state will become the largest investor in European satellite operator Eutelsat, a competitor to Starlink. It will lead a capital increase together with private shareholders, the company said on Thursday. TASR reports this based on an AFP report.
The government's stake in Eutelsat will thus increase to almost 30% from 13%, as part of a deal to be completed by the end of this year. In total, the investors are to invest 1.35 billion euros in the company.
The announcement comes at a time when competition in the satellite communications sector is increasing. The dominant player is still American billionaire Elon Musk's Starlink, but some governments are interested in their own solutions.
"The race is on. That's why we must take a stand now and invest now. Otherwise, the entire market will be occupied and France and Europe will depend on other powers in the future," President Emmanuel Macron's office told AFP.
Eutelsat, which boasts more than 600 satellites since its merger with British firm OneWeb in 2023, is the second-largest operator of low-Earth orbit (LEO) satellites after Starlink. That makes it a clear candidate to be the European champion.
The company is pushing for new government contracts. At the world’s largest air show, which is taking place this week in Le Bourget near Paris, it signed a 10-year, billion-euro deal to provide military communications for the French armed forces.
When it presented its quarterly results in May, Eutelsat said it was actively negotiating with governments in Europe and beyond.
The capital raise should allow Eutelsat to continue renewing its satellites.
In addition to France, the main shareholders are shipping giant CMA CGM, Indian telecom operator Bharti Airtel and investment fund FSP, which owns seven French insurance companies.
The two-stage plan includes a “reserved” capital increase open only to four named investors, while a second round will be open to other investors.
“Discussions are ongoing with other investors, including the British government, who could join the capital increase in due course,” Eutelsat said.
The capital increase represents a key step in Eutelsat’s strategic and financial plan. It will enable it to implement its strategic vision, the company added.
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