France government invests big in Eutelsat-OneWeb
According to the satellite company Eutelsat-OneWeb, the French government has now committed more than a billion dollars in investment capital to the company, doubling its stake to almost 30%.
France would more than double its stake in Eutelsat to nearly 30% as part of a $1.56 billion capital raise backed by multiple shareholders, bolstering the French operator’s plans to refresh its OneWeb constellation amid Starlink’s growing dominance.
The funds would be raised in two parts before the end of the year, Eutelsat announced June 19, a day after the French military agreed to buy OneWeb services over 10 years in a deal potentially worth up to one billion euros ($1.15 billion).
OneWeb itself almost went bankrupt until it was saved by cash from a major Indian investor and the government of the United Kingdom. This new deal means that the merged company is largely controlled by France, the UK, and India.
According to the satellite company Eutelsat-OneWeb, the French government has now committed more than a billion dollars in investment capital to the company, doubling its stake to almost 30%.
France would more than double its stake in Eutelsat to nearly 30% as part of a $1.56 billion capital raise backed by multiple shareholders, bolstering the French operator’s plans to refresh its OneWeb constellation amid Starlink’s growing dominance.
The funds would be raised in two parts before the end of the year, Eutelsat announced June 19, a day after the French military agreed to buy OneWeb services over 10 years in a deal potentially worth up to one billion euros ($1.15 billion).
OneWeb itself almost went bankrupt until it was saved by cash from a major Indian investor and the government of the United Kingdom. This new deal means that the merged company is largely controlled by France, the UK, and India.