UK and Bharti Back Eutelsat's €1.5B Push to Rival Starlink

The United Kingdom has committed €163.3 million to French satellite operator Eutelsat in a bold move to reinforce Europe’s position in the global race for satellite internet dominance. This financial support is a part of a much larger €1.5 billion funding round aimed at enhancing Eutelsat’s technological prowess and competitive standing. With this initiative, Europe seeks to counterbalance the rapid expansion of Elon Musk’s Starlink network. The capital infusion is backed not only by the UK but also by France, Sunil Mittal’s Bharti Group, and other key strategic investors, all of whom are aligned in their vision to elevate Eutelsat’s global stature.

Bharti Deepens Stake in Eutelsat as LEO Strategy Gains Momentum

Bharti Group, a major player in the satellite space since merging its OneWeb satellite division with Eutelsat in 2023, has reaffirmed its commitment by increasing its total investment to €150 million. Eutelsat now commands a fleet of 669 satellites, making it the second-largest satellite operator in the world. With the UK’s participation through the Secretary of State for Science, Innovation and Technology, Eutelsat is poised to accelerate its deployment of both low-earth orbit (LEO) and geostationary satellites. These capabilities are vital to positioning the company as a serious challenger to Starlink’s growing global footprint.

Sunil Bharti Mittal, Co-Chairman, Eutelsat Group, said, “I am delighted that the UK has joined Bharti and the French State in announcing further investment in Eutelsat Group, and I thank Prime Minister Starmer for his vision and leadership on this matter.”

France Leads Stakeholder Contributions in Multiphase Funding Round

The fresh capital raise is structured in two phases and brings together powerful financial commitments from France, Bharti Group, the UK, and other leading stakeholders. France, through its state investment arm APE, remains the largest shareholder by pledging €750 million, which secures its 29.56% ownership in Eutelsat. Bharti Group’s stake now stands at 17.88%, a reduction from its previous 24.09% after capital restructuring. The UK holds on to a 10% share, while French logistics giant CMA CGM has upped its stake to 7.46%. The remainder, approximately 35%, is distributed among other institutional investors.

“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,” Sunil Bharti Mittal added.

Structured Capital Raise Targets Expansion and Regulatory Approval by 2025

The €1.5 billion funding effort will be executed in two stages: an initial reserved capital increase of €828 million, followed by a €672 million rights issue. France will lead the investment with €551 million, Bharti will contribute €30 million in the first stage and €120 million in the second, while the UK is set to invest €90 million. Other investors such as CMA CGM and FSP will inject €100 million and €57 million, respectively. Subject to shareholder consent and regulatory clearance, the entire process is expected to conclude by the end of 2025, placing Eutelsat on firm footing for global expansion.

Europe Rallies for Global Competitiveness in Satellite Internet

During the Paris Air Show, French President Emmanuel Macron emphasized the necessity of transnational cooperation in advancing Europe’s satellite capabilities. With rapidly evolving dynamics in the LEO sector, governments and corporations alike are recognizing the need for unified investment. Eutelsat’s reinforced backing from both public and private players positions it to innovate more aggressively and broaden its worldwide service network. As demand for secure and resilient satellite internet infrastructure grows, Eutelsat is emerging as a pivotal force in shaping Europe’s space ambitions.