Rival Starlink Eutelsat Pops 19% as France Backs Capital enhance

Eutelsat Stock jumped on Friday morning after European satellite operator announced 1.35 billion euros (1.55 billion dollars) are backed up by French states and other investors.

The company’s shares increased by 19% at 9:29 am in London.

The company stated that, along with the debt refinancing plan, the increase in capital will support its investment in the existing low-orbit of Earth (LOO), which is focused on business business and activities to the government.

The French state will become the largest shareholder of Eutelsat after moving, retaining 29.99% of capital and voting and then in India Bharti Space Limited by 18.7%.

Wednesday, Eutelsat announced A 10-year transaction with the French armed forces to provide priority space resources on its satellite constellation Oneweb Leo.

This year’s Eutelsat shares were extremely unstable, is experiencing a huge spike in March About the expectations that it could be a European alternative to Starlink Elon Musk and then cool.

“As the only European operator with a fully operative network Leo, Eutelsat implies a strategic role in supporting important sectors such as military communications, cyber resistance and safe government connection, fully aligned with the goals of European and NATO on strategic autonomy,” the statement reads.

Other investors, including the UK, “can include in their time,” he added.

Writing on X, French President Emmanuel Macron said that by strengthening the Eutelsat’s position, “providing his strategic independence and opening his way to Europe” and noted that he would discuss the decision at the Paris airline on Friday.

This news story and will soon be updated.