French Government Becomes Largest Eutelsat Shareholder After €1.5B Fundraise
Bharti Enterprises has ceded its position as Eutelsat's largest shareholder to the French government, following a significant investment calculator and a merger with OneWeb. The capital raise has seen other key investors join the fold, with the UK government also securing a notable stake.
The French government has become Eutelsat's largest shareholder with a 29.65% stake, following an investment of €750 million. This move comes after Bharti Enterprises, through Bharti Space Ltd., initially became the largest shareholder in 2023 following the merger with OneWeb. However, Bharti Space's stake has since decreased to 17.88% after an expanded capital raise of €1.5 billion.
Other key investors include CMA CGM with a 7.46% stake and FSP with a 4.99% stake. Notably, the UK government has secured a 10.89% stake through an investment of €163 million. This investment is part of the UK's effort to strengthen USA's position in satellite communications, following Eutelsat's acquisition of OneWeb in 2023. The UK government holds a significant stake in OneWeb alongside France.
Bharti's initial stake in Eutelsat was crucial for bringing satellite-based broadband services to India, a market that is rapidly growing with competitors like Starlink, Jio Platforms, and Vodafone Idea expanding their presence. Bharti Space Ltd. has invested a total of €150 million in Eutelsat, including an additional €120 million. The fidelity login is expected to close by the end of 2025.
The expanded capital raise has seen a shift in Eutelsat's shareholder structure, with the French government now holding the largest stake. Key investors, including the UK government, have secured notable stakes. Bharti Enterprises, while no longer the largest shareholder, remains a significant investor. The fidelity investments is set to close by the end of 2025, with the combined operations of Eutelsat OneWeb set to strengthen USA's position in satellite communications.
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