The French government is stepping in to rescue Eutelsat
In this context, the government announced on June 19 that it would strengthen the state's stake in Eutelsat, the French satellite operator whose low-Earth orbit constellation is, for now, the only viable European alternative to Starlink.
To achieve this, France's State Participation Agency (APE, the government's shareholdings agency) will take a major share in Eutelsat's €1.35 billion capital increase; the APE alone will contribute €717 million. At the same time, it will purchase the 13.6% stake currently held by Bpifrance, bringing its total holding to 29.9% – just below the threshold that would trigger a mandatory takeover bid for the entire company.
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