UK, Bharti Back Eutelsat In €1.5 Billion Push To Rival Starlink

The United Kingdom has committed an investment of €163.3 million (Rs 1,634 crore) in French satellite operator Eutelsat, bolstering Europe's push to rival Elon Musk's Starlink in the global satellite Internet arena.

This investment is part of a broader €1.5 billion (Rs 15,008 crore) funding round aimed at scaling up Eutelsat's capabilities, with additional backing from France, Sunil Mittal's Bharti Group, and other key stakeholders, the company said on Thursday.

Bharti Group, which merged its satellite venture OneWeb with Eutelsat in 2023, has also raised its investment commitment to €150 million (Rs 1,501 crore).

With a fleet of 669 satellites, Eutelsat now holds the position of the second-largest satellite operator globally. With UK's participation, through the Secretary of State for Science, Innovation and Technology, it will further bolsters Eutelsat's drive to expand its low-earth orbit (LEO) and geostationary satellite capabilities—critical to competing with Starlink.

Funding Breakup

The fresh funding round includes major commitments from France, Bharti Group, the UK government, and other strategic investors. France, via its state agency APE, is contributing €750 million (Rs 7,504 crore), maintaining its position as the company's largest shareholder with a 29.56% stake.

Bharti now holds a 17.88% stake, down from 24.09% after the latest capital restructuring. The UK retains a 10% stake, while French shipping firm CMA CGM has increased its holding to 7.46%. The remaining 35% is held by other institutional investors.

The funding will be raised in two phases: a €828-million reserved capital increase, followed by a €672-million rights Issue. France leads with €551 million, while Bharti will invest €30 million initially and €120 million in the second phase. The UK will contribute €90 million, with CMA CGM (€100 million) and FSP (€57 million) also participating.

Final completion is expected by end-2025, pending shareholder and regulatory approvals.

Sunil Bharti Mittal, Eutelsat's co-chairman, said the capital injection would fast-track innovation under new CEO Jean-François Fallacher. He echoed President Emmanuel Macron's recent call for allies—including India, Canada, Brazil, and Gulf nations—to join Europe's efforts to build strategic independence in space technology.

Speaking at the Paris Air Show, Macron had stressed the urgency of international collaboration in satellite investment to ensure Europe remains competitive in the fast-evolving LEO sector.

With fresh backing from governments and global investors, Eutelsat is poised to scale innovation and extend its global reach amid rising demand for secure and reliable satellite Internet.