Britain Boosts Investment in Eutelsat Amid Strengthened Franco-British Ties

Britain invests €163 million in Eutelsat to bolster trade and collaboration with France, coinciding with a key London summit. This investment strengthens its stake amidst increasing competition. Meanwhile, France prepares to become Eutelsat's largest shareholder with a significant €1.35 billion investment.

In a strategic move to enhance trade relations, the United Kingdom announced a €163 million investment in the French satellite operator Eutelsat. This development was revealed during a summit held in London, which forms part of a broader state visit aimed at fostering deeper ties with France, particularly in areas such as migration.

The British government's decision to maintain a 10.9% stake in Eutelsat highlights the competitive landscape in the satellite industry, where Eutelsat vies with entities like Elon Musk's Starlink. This comes as French President Emmanuel Macron marks his visit to the UK by emphasizing mutual cooperation.

Additionally, the French government's recent announcement of a €1.35 billion investment in Eutelsat is positioned to make it the satellite company's largest shareholder. This move will see it surpassing Sunil Mittal's Bharti Space in shareholding stakes, further consolidating France's influence in the space industry.

(With inputs from agencies.)