Overview

• The French state will underwrite €717 million of the €1.35 billion equity raise to hold 29.9% of Eutelsat, overtaking other investors as its largest shareholder.
• Eutelsat launched the capital increase to reduce debt, bolster financial flexibility and fund OneWeb’s second-generation satellites alongside the future sovereign Iris2 constellation.
• Bpifrance’s 13.6% stake will be bought by the state, while core investors Bharti Airtel, CMA-CGM and the Fonds stratégique de participations will also subscribe to the new shares.
• The company has secured a 10-year framework agreement with the French military worth up to €1 billion for satellite communications services.
• Eutelsat is in discussions with the UK government and other potential backers to complete the operation by the end of 2025.