Latest news with #OneWeb
Canada Standard
2 days ago
- 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
2 days ago
- 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
2 days ago
- 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)
India Gazette
2 days ago
- Business
- India Gazette
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
2 days ago
- 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. The Bharti investment follows closely on the heels of Bharti Airtel's recent partnership announcement with Elon Musk's SpaceX to bring Starlink's satellite broadband service to India. The move indicates that the group is hedging its bets across both GEO and LEO satellite service providers in anticipation of rising demand for rural and remote internet access.
