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France is investing 717 million euros in Paris-based satellite operator Eutelsat, a global competitor to the US company Starlink, owned by Elon Musk.
A sounding and stumbling support for the European satellite champion: against the American Starlink, France will reinvest 717 million euros in the Eutelsat group, becoming the first shareholder, officialised the company and the Elysée on Thursday 19 June.
French government to lead Eutelsat’s $1.56 billion capital boost
France would more than double its stake in Eutelsat to nearly 30% as part of a $1.56 billion capital raise backed by multiple shareholders, bolstering the French operator’s plans to refresh its OneWeb constellation amid Starlink’s growing dominance. The post French government to lead Eutelsat’s $1.56 billion capital boost appeared first on SpaceNews.
InsideNoVA.com
French state leads capital increase for satellite operator Eutelsat
The French state will become the biggest investor in European satellite operator and Starlink competitor Eutelsat, leading a capital increase alongside private shareholders, the company said Thursday.
France to purchase biggest share in Starlink rival Eutelsat
Elon Musk will face some stiff competition from Europe’s answer to Starlink now that the French government is behind it. The French state is set to become Eutelsat’s biggest shareholder following a $1.55 billion (or 1.35 billion euros) investment that the financial ministry said will help the satellite company compete with Musk’s Starlink. “The race is on. That’s why we have to take a position now and invest now. Otherwise, the whole market will…
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