The UK government has officially joined Eutelsat's capital raising initiative, which involves supporting the company's long-term strategy. This decision cements the UK's position as one of the key shareholders of the combined satellite group, which includes OneWeb.
Funding from the UK Government is through the Secretary of State for Science, innovations and technologies, and will amount to €163.3 million. So, Great Britain joins France (via APE), Bharti, CMA CGM and FSP as an investor within the planned "reserved" capital increase.
After the transaction is completed, the French government will own 29,65% shares and votes, Bharti – 17,88%, Great Britain – 10,89%, CMA CGM – 7,46%, а FSP – 4,99%. None of these shareholders will be able to initiate a buyout of the company.
The move is part of a strategy to strengthen European sovereignty in the field of satellite communication, especially against the background of global competition from such companies, like Starlink.
Source: https://news.satnews.com