Şunun için etiket arşivi: Starlink competitor

Britain will invest €163.3 million ($191 million) in satellite operator Eutelsat, adding to a larger funding injection from France designed to help the company compete with SpaceX’s Starlink, Eutelsat announced on Thursday. This joint recapitalization effort highlights Europe’s drive to enhance its sovereign capabilities in key areas like satellite communications and defense, particularly in light of Russia’s invasion of Ukraine and the U.S.’s “America First” policies.

During a three-day state visit to Britain, French President Emmanuel Macron publicly thanked London for the investment in a post on X. Following the announcement, Eutelsat shares jumped as much as 10% in early trading on the Paris stock exchange.

France’s state shareholding agency plans to inject €750 million later this year, becoming Eutelsat’s largest shareholder with a 29.65% stake. Meanwhile, Britain’s new investment will allow it to maintain its 10.89% stake, preventing dilution from France’s recapitalization, and preserve influence in European space policy post-Brexit.

Britain will also keep its “golden share,” which grants veto powers over OneWeb, the London-based subsidiary of Eutelsat, according to a source familiar with the matter. The total recapitalization now reaches €1.5 billion following the UK’s participation.

Peter Kyle, the British science and technology minister, emphasized the importance of resilient satellite connectivity for European national security in an increasingly contested space environment. He also stated that the investment demonstrates the UK’s commitment to developing these technologies and maintaining a significant position in the global satellite communications market.

This deal could pave the way for Britain’s involvement in the EU’s IRIS² satellite constellation project, for which Eutelsat is a key contractor, according to French newspaper Les Echos, which first reported on the UK’s investment.

Britain initially became a shareholder in OneWeb in 2020 through a $1 billion bailout, before OneWeb merged with Eutelsat in 2023. Eutelsat currently manages 34 geostationary satellites and over 600 low Earth orbit satellites, making it the world’s second-largest constellation after Starlink.

Eutelsat’s stock has surged 64% this year, boosted by France’s financial backing and investor confidence in its satellites as a viable alternative to Starlink.