|
The UK will invest Euro 163.3 million in Paris-headquartered satellite communications company Eutelsat, retaining a 10.89 per stake, a company statement said Thursday.
This additional investment commitment from the UK (The Secretary of State for Science, Innovation and Technology of the United Kingdom) will increase the total amount to be raised to Euro 1.5 billion, underpinning the execution of Eutelsat's long-term strategic vision. The other investors in Eutelsat are France's Agence des Participations de l'Etat, Bharti Space Limited, CMA CGM, FSP, and others. "Thanks to our British friends as they continue to follow us on the Eutelsat adventure! We're over the moon to keep going with you. Together we go further!" French President Emmanuel Macron said in a post on X. Macron is on a state visit to the UK. In June 2025, Macron, while speaking at the Paris Air Show in Le Bourget, had called for more investment from other countries as well such as India to team up with France. He had said "This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil." Peter Kyle, Secretary of State for Science, Innovation and Technology added satellites underpin industrial activity worth Euro 364 billion to the UK economy. "But their critical role extends far beyond economic growth," noted Kyle. Sunil Bharti Mittal, Co-Chairman, Eutelsat Group stated: "I am delighted that the UK has joined Bharti and the French State in announcing further investment in Eutelsat Group, and I thank Prime Minister Starmer for his vision and leadership on this matter." "Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. Eutelsat's OneWeb was the first complete low-Earth orbit constellation, and the company is the first and only provider able to provide customers with access to both low-Earth orbit and geostationary orbit services. This new capital injection will allow Eutelsat to go further and faster in developing innovative new technologies and services under the leadership of its new CEO, Jean-Francois Fallacher." "I echo President Macron's words at the Paris Air Show last month, where he urged France's major strategic partners in the Gulf, India, Canada and Brazil to join the coalition backing Eutelsat Group as the global Space Champion," Mittal added. Eutelsat Group is a global leader in satellite communications, delivering connectivity and broadcast services worldwide. The Group was formed through the combination of the Company and OneWeb in 2023. It is headquartered in Paris and the Eutelsat Group employs more than 1,500 people across more than 50 countries. (ANI)
|
