Eutelsat Communications said it plans to raise € 1.35 Billion ($1.5 billion) in an investment round led by the French government as the company seeks to expand its satellite internet service and rival to Elon Musk’s Starlink. In a statement, Eutelsat said that the fundraising round would increase the French government’s stake in the company to just under 30%, more than doubling the country’s interest in Eutelsat, Bloomberg reported. Eutelsat acquired its response to Starlink—OneWeb, which provides wireless internet service via low earth orbiting satellites—out of bankruptcy in 2023. France’s investment comes as European countries are increasingly seeking to lessen their reliance on U.S. technology partners. Political tensions between Europe and the U.S. have intensified under the administration of U.S. President Donald Trump. And Elon Musk, whose rocket company SpaceX operates Starlink, has become a particularly polarizing business leader in Europe, where Musk has increasingly sought to influence political affairs. https://www.bloomberg.com/news/articles/2025-06-19/eutelsat-raises-1-35-billion-led-by-france-to-aid-oneweb?utm_campaign=%5BREBRAND%5D+%5BTI-AM%5D+Th&utm_content=1095&utm_medium=email&utm_source=cio&utm

Todd Smith

6 months ago

shared a link post in group #SpaceX 🚀

Eutelsat Communications said it plans to raise € 1.35 Billion ($1.5 billion) in an investment round led by the French government as the company seeks to expand its satellite internet service and rival to Elon Musk’s Starlink.

In a statement, Eutelsat said that the fundraising round would increase the French government’s stake in the company to just under 30%, more than doubling the country’s interest in Eutelsat, Bloomberg reported. Eutelsat acquired its response to Starlink—OneWeb, which provides wireless internet service via low earth orbiting satellites—out of bankruptcy in 2023.

France’s investment comes as European countries are increasingly seeking to lessen their reliance on U.S. technology partners. Political tensions between Europe and the U.S. have intensified under the administration of U.S. President Donald Trump. And Elon Musk, whose rocket company SpaceX operates Starlink, has become a particularly polarizing business leader in Europe, where Musk has increasingly sought to influence political affairs.

bloomberg.com/news/articl..

 #SpaceX 🚀 #Space law

www.bloomberg.com

Eutelsat Raises €1.35 Billion to Build Europe’s Starlink Rival

Eutelsat Communications SA is raising €1.35 billion ($1.5 billion) from the French government and other investors in a deal that will help the European company build out its fleet of satellites as an alternative to Elon Musk’s Starlink.