Latest news with #EutelsatGroup
Canada Standard
10-07-2025
- Business
- Canada Standard
UK to invest EUR163.3 million in French satcom firm Eutelsat; Macron says
Paris [France], July 10 (ANI): 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)
Mint
10-07-2025
- Business
- Mint
Bharti Space to invest additional ₹1,200 crore in Eutelsat
Bharti Space Ltd will invest an additional €120 million (about ₹ 1,204 crore) in French satellite operator Eutelsat Communications S.A. through a rights issue as part of the latter's €1.5 billion (over ₹ 15,000 crore) capital raising plan, the Starlink rival said in a statement on Thursday. This investment by Bharti Enterprises' space venture is in addition to ₹ 300 crore or €30 million, which it had committed earlier through a reserve capital increase process. Bharti Space holds a 24.09% stake in Eutelsat Group. On 19 June, Eutelsat announced that it is raising capital of €1.35 billion (around ₹ 11,250 crore)through a mix of a reserve capital increase worth €716 million ( ₹ 6,865 crore) and a rights issue of €634 million ( ₹ 6,330 crore). In the Thursday update, it increased the capital raising round size to €1.5 billion (over ₹ 15,000 crore) after the UK government committed to joining the fundraising round. The round now includes €828 million (around ₹ 8,304 crore) through reserve capital increase and a rights issue of €672 million (around ₹ 6,739 crore). Eutelsat expects the fundraising to be completed by the end of this year. To be sure, the UK government holds a 10.9% stake in Eutelsat currently. It has committed to invest a total of €163.3 million (around ₹ 1,638 crore). The satellite operator aims to use the fresh funds to pare debt and expand investments in satellite constellations, as it pushes to cement its role in the global space communications market, it said in the 19 June statement. '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,' said Sunil Bharti Mittal, co-chairman of Eutelsat Group, in the Thursday statement. '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 chief executive, Jean-François Fallacher,' Mittal added. Bharti Space, along with other key investors—the French government, UK government, shipping major CMA CGM, and sovereign investor Fonds Stratégique de Participations (FSP)—will participate in both parts of the fundraising. Eutelsat said the commitments of the reserved capital increase by investors remain subject to shareholders' approvals at an extraordinary shareholders' meeting, which will be held around the end of the September quarter. The same is also subject to other statutory approvals. With the investment commitment of a total of ₹ 1,500 crore, Bharti's shareholding in Eutelsat Group would be around 17.8%. The French government will become the largest shareholder with a 29.65% stake as it is investing €750 million (around ₹ 7,518 crore). In the merged entity of Eutelsat OneWeb, Bharti owns a 21% stake. Bharti's shareholding in the company will reduce as, post the fundraising via reserve capital increase and rights issue, Eutelsat's overall share capital will increase. This would lead to potential dilution. Eutelsat's reserved capital increase is being carried out at €4 per share, representing a 32% premium over the company's 30-day average share price on the Euronext Paris stock exchange as of 18 June's close. 'In the current environment, it is crucial that our countries continue to collaborate and support each other, including in space, which has become a key sovereign strategic asset. We remain committed to the UK, which we consider as one of our home markets, and to supporting the development of OneWeb to address the needs of all our sovereign and commercial stakeholders,' said Jean-François Fallacher, CEO of Eutelsat. The capital raise comes at a time of heightened activity in the satellite internet space, especially in India. OneWeb, now part of the Eutelsat Group, has received a licence from the Indian government to launch satellite internet services. However, the roll-out remains on hold as the department of telecommunications is yet to allocate spectrum for such services.
Canada News.Net
10-07-2025
- Business
- Canada News.Net
UK to invest EUR163.3 million in French satcom firm Eutelsat; Macron says "together we go further"
Paris [France], July 10 (ANI): 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)
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Business Standard
10-07-2025
- Business
- Business Standard
UK to invest 163 million euros in Eutelsat, Bharti Space ups stake
The United Kingdom will invest 163 million Euros in French satellite major Eutelsat through a reserved capital increase (RCI), bringing the total amount planned to be raised by Eutelsat to 1.5 billion Euros, the company announced on Thursday. Bharti Space Ltd has also raised its investment commitment to 150 million Euros. The British government will invest 90.1 million Euros through an RCI and a rights issue (RI) of 73.2 million Euros, through the office of the Secretary of State for Science, Innovation, and Technology of the United Kingdom. 'As our adversaries increasingly use space technologies to harm us, resilient satellite connectivity has become essential to our continent's national security. This investment reflects our commitment to support the development of these critical technologies and maintain an important stake in the global satellite communications sector,' said Peter Kyle, Secretary of State for Science, Innovation, and Technology. The entry of another key reference shareholder comes weeks after the French government had announced a similar investment of 551 million Euros in the RCI and subscribed to a rights issue of 199.3 million Euros. The Agence des Participations de l'État (APE), or State Participations Agency, responsible for managing the French state's shareholdings in companies of strategic importance, will now have a total investment of 750 million Euros. In 2023, Bharti Enterprises-backed satellite communications company OneWeb merged with Eutelsat to become the second-largest satellite operator globally, with 669 satellites in orbit. The total RCI would amount to 828 million Euros, and a subsequent RI would amount to 672 million Euros. Eutelsat's capital raise is part of a plan to refinance debt and expand its upcoming constellation of satellites. Apart from moving forward with a dedicated debt refinancing plan, this capital increase will reinforce the company's financial flexibility by accelerating its deleveraging and supporting investment in its existing Low Earth Orbit (LEO) capabilities and the future IRIS² constellation. 'Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. 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,' said Sunil Bharti Mittal, Co-Chairman of Eutelsat Group. Both the RCI and the RI are expected to be completed by the end of 2025. Following the two transactions, and subject to participation from investors, the French State would hold a stake of 29.65 per cent of the capital and voting rights, while Bharti Space Limited and the UK government would hold 17.88 per cent and 10.89 per cent, respectively. Shipping giant CMA CGM, and Le Fonds Stratégique de Participations (FSP), an investment fund owned by seven France-based insurance firms, would hold 7.46 per cent and 4.99 per cent of the share capital and voting rights. The rules of the agreement state that investors will not be in a position to launch a public takeover.
Time of India
10-07-2025
- Business
- Time of India
UK govt to invest EUR163 million in Bharti Group-backed Eutelsat
The British government will invest a total of EUR163 million in Bharti group-backed Eutelsat , which will increase the French satellite-communication major's capital raising plan to EUR1.50 billion from EUR1.35 billion earlier, further diversifying state ownership of the satellite group. The investments will be in two stages – first a preferential issue and then a rights issue – in Eutelsat, the world's second largest satcom group and a chief rival to Elon Musk-owned Starlink . The UK government will invest EUR90.1 million via the preferential issues and EUR73.2 million via the rights issue, giving it a 10.89% stake in Eutelsat. In fact, French President Emmanuel Macron had recently invited India to also invest in Eutelsat, to help broad-base state ownership of the company amidst global geopolitical challenges. The French government will invest €550.7 million in Eutelsat in the first preferential issue round, and then EUR199.3 million and become the largest shareholder with a 29.65% stake, displacing Bharti Space, which will now own 17.8% stake in Eutelsat. Bharti Enterprise's space venture will invest €29.9 million as part of the preferential issue and EUR120.1 million in the rights issue, totalling a commitment of EUR150 million. Other investors include shipping major CMA CGM with €99.8 million and EUR50.2 million for a 7.46% stake, with sovereign investor FSP putting in €57.4 million and EUR33.5 million, which will give it 4.99%. The Reserved Capital Increase (RCI), or the preferential issue, and the Rights Issue are expected to be completed by the end of calendar 2025, the company said in a release Thursday. '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.,' Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises & Co-Chairman Eutelsat Group. After the merger between Eutelsat and Bharti Enterprises- and UK government-backed OneWeb in 2023, the Indian group became the largest shareholder in Eutelsat with a 21.2% share. '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,' CEO, Jean-François Fallacher said. "I echo (French) President (Emmanuel) 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.' The capital raise comes at a time of heightened activity in the satellite internet space, especially in India. Eutelsat OneWeb, a unit of the Eutelsat group, is poised to start commercial broadband-from-space service in India, having received all necessary statutory clearances, except for spectrum. Operating more than 600 satellites since merging with British firm OneWeb in 2023, Eutelsat is the world's second-largest operator of low Earth orbit (LEO) satellites. But it remains far smaller than Starlink, which has 6,000 satellites.
