France will more than double its stake in Eutelsat to almost 30% within the framework of capital increase on 1,56 A billion dollars, supported by several shareholders, underpinning the French operator's plans to upgrade its OneWeb constellation amid the growing dominance of Starlink.
Funds will be collected in two parts by the end of the year, Eutelsat announced 19 June, a day after that, as the French military agreed to buy OneWeb services during 10 years as part of the agreement, the potential value of which can reach one billion euros (1,15 A billion dollars).
Elementary 716 millions of euros will be received through the capital increase in value 4 EUR per share, what on 32% more than the average price for the last ones 30 days. This tranche will be open only to the core group of shareholders: the French government, of the shipping giant CMA CGM, of the Indian telecommunications company Bharti Airtel and the investment fund FSP, owned by seven insurance companies, which are based in France.
These major shareholders will then participate in the next issue of shares for an amount 634 millions of euros, open to all existing investors.
Source: https://spacenews.com