US EditionFrance Becomes Biggest Shareholder in Eutelsat, EU Rival to Musk's Starlink
- On June 19, 2025, France committed to a 1.35 billion-euro capital raise to become the largest shareholder in Eutelsat, a European satellite operator based near Paris.
- This move followed Eutelsat's 2023 merger with British firm OneWeb and aims to counterbalance Elon Musk's dominant Starlink by enhancing Europe's space-based digital sovereignty.
- The two-stage capital increase includes a reserved tranche for four named investors and a rights issue open to other shareholders, with France acquiring Bpifrance's existing stake to raise its holding from 13 to nearly 30 percent.
- Finance Minister Éric Lombard highlighted Eutelsat's vital role in reinforcing Europe's independence in satellite technology, while officials anticipate that the new funding will help lower debt levels and support the modernization of the satellite fleet.
- This financial infusion positions Eutelsat to compete with Starlink, support growth, and sustain Europe’s independent satellite capabilities amid rising geopolitical and market pressures.
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Distinguished by the Starlink constellation of Elon Musk, the European satellite communications operator will benefit from a capital increase of 1.3 billion euros. The French state will finance almost half of this.
France becomes biggest shareholder in Eutelsat, EU rival to Musk's Starlink
France on Thursday became the biggest shareholder in satellite company Eutelsat, which is widely regarded as a potential European rival to Elon Musk's Starlink. France chose to act now to avoid depending on "other powers" in the future, said President Emmanuel Macron.
Already a 13 % shareholder of the group, the French state will increase its stake by 717 million euros in order to hold almost 30 % of the shares of Eutelsat, in the strategic sector of telecommunications satellites.
French State Bolsters Eutelsat to Rival Starlink
The French government is set to become Eutelsat's primary shareholder through a capital increase of 1.35 billion euros. This move aims to boost Eutelsat's competitiveness against Elon Musk's Starlink. The state shareholding agency will inject 717 million euros, raising France's total stake in Eutelsat to 29.99%.
Biggest investor: French state leads capital increase for satellite operator Eutelsat
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