The UK has joined Eutelsat’s 1.5 billion euro capital raise, where Bharti Space is committing 150 million euro, in a move that arms the European satellite operator with added firepower to challenge Elon Musk’s Starlink in a high-stakes game in global skies.
The UK has committed to subscribe to the Reserved Capital Increase (RCI) and the rights issue for a total amount of 163.3 million euro.
Topping up the commitments from the French government and other investors (Bharti Space’s 150 million euro), the UK’s latest move now pushed up the warchest to 1.5 billion euro.
“The United Kingdom joins France in contemplated capital increase in Eutelsat; with Bharti Space also committing Euro 150 million, taking the total amount to Euro 1.5 billion,” an Eutelsat release said.
The Reserved Capital Increase and the rights issue are expected to be completed by the end of 2025.
Post the two transactions and investor participation (as planned), the French State would hold a stake of 29.65 per cent and voting rights, while Bharti Space, UK Government, CMA CGM and FSP would respectively hold 17.88 per cent, 10.89 per cent, 7.46 per cent, and 4.99 per cent, according to the release.
Bharti Space currently holds just over 24 per cent stake in Eutelsat.
French President Emmanuel Macron, while speaking at the Paris Air Show in Le Bourget in June 2025, had called for more investment from other nations (including India) to team up with France. “This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil,” he had said.
Over the past months, the satcom war in the skies has intensified as Eutelsat is positioning itself as Europe’s response to Starlink. It aims to challenge Elon Musk’s giant constellation of satellites that dominate global connectivity today.
Back home, Starlink has moved a step closer to launching its services in India with the nod from the Indian National Space Promotion and Authorisation Centre.Last month, the US firm had secured a license from the telecom department for providing satellite internet services in India.
According to Eutelsat’s release on Thursday, the Reserved Capital Increase would amount to 828 million euro, to be subscribed by the French State via APE for 551 million euro, Bharti Space for 30 million euro, UK Government for 90 million euro, CMA CGM for 100 million euro, and FSP for 57 million euro.
The subsequent Rights Issue would amount to 672 million euro.
Bharti Space would infuse 29.9 million euro in Reserved Capital Increase, and its contribution via Rights Issue would be 120.1 million euro.
“Today, governments require secure and reliable sovereign connectivity solutions, and Eutelsat is uniquely positioned to meet this need. Eutelsat’s OneWeb was the first complete low-Earth orbit constellation, and the company is the first and only provider able to provide customers with access to both low-Earth orbit and geostationary orbit services.
“This new capital injection will allow Eutelsat to go further and faster in developing innovative new technologies and services under the leadership of its new CEO Jean-Francois Fallacher,” Sunil Bharti Mittal, Co-Chairman, Eutelsat Group, said.
Mittal echoed Macron’s words at the Paris Air Show last month, where he had urged France’s major strategic partners in the Gulf, India, Canada and Brazil to join the coalition backing Eutelsat Group as the global space champion.
Fallacher noted that space has become a key sovereign strategic asset and added that it is crucial that countries continue to collaborate and support each other in the current environment.
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“We remain committed to the UK, which we consider as one of our home markets and to supporting the development of OneWeb to address the needs of all our sovereign and commercial stakeholders,” Fallacher said.
