Eutelsat shares open up 6% after France gives it capital boost
ReutersJun 20, 2025 7:02 AM
PARIS, June 20 (Reuters) - Eutelsat shares opened up 6% on Friday after the French government announced it would become the satellite company's biggest shareholder following a 1.35 billion-euro ($1.56 billion) capital increase.
The French finance ministry said the move would help the company, which owns the world's second-largest constellation of low-Earth orbit satellites, compete with Elon Musk's Starlink.
"By strengthening the capital of Eutelsat, the only European player in low-Earth orbit constellations, France is securing its strategic independence and paving the way for that of Europe," Macron wrote in a post on social media platform X early on Friday.
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