Starlink rival Eutelsat pops 22% as France backs capital raise

Eutelsat The actions broke out on Friday morning, after the European satellite operator announcement A capital increase of 1.35 billion euros ($ 1.55 billion) led by the French state and BcAked by other investors.

The actions of the company increased by 22% to 10:15 a.m. London time.

The company said that, with a debt refinancing plan, the capital increase would support its investment in its existing capacities on the Low Earth Orbit (LEO), which focuses on business and business business operations.

The French State will become the largest shareholder in Eutelsat after this decision, holding 29.99% of capital and voting rights, followed by Bharti Space Limited of India at 18.7%.

Wednesday, Eutelsat announcement A 10 -year agreement with the French armed forces to provide spatial resources with priority access to its Oneweb Leo satellite constellation.

Eutelsat actions have been extremely volatile this year, Live a huge point in March On the expectations that this could be a European alternative to the Star of Elon Musk, then to fall suddenly.

“As the only European operator with a fully operational Leo network, Eutelsat is positioned to play a strategic role by supporting critical sectors such as military communications, cyber-resilience and secure government connectivity, fully aligned with the objectives of the European Union and NATO for strategic autonomy,” said in the press release.

Other investors, including the United Kingdom, “could reach the increase in capital in due course,” he added.

Writing on X, French President Emmanuel Macron said that by strengthening the position of Eutelsat, France “assured its strategic independence and by opening the way to Europe” and noted that he would discuss the decision of the Paris Air Show on Friday.

This is a news and will be updated shortly.