Satcom: UK government commits $191 million to Eutelsat, Bharti Space $176 million

NEW DELHI: The UK has joined Eutelsat's 1.5 billion euro (nearly $1.8 billion) capital raise, where Bharti Space is committing 150 million euro ($176 million), in a move that arms the European satellite operator with added muscle to challenge Elon Musk's Starlink in the satcom business.

The UK has committed to subscribe to the Reserved Capital Increase (RCI) and the rights issue for a total amount of 163.3 million euro ($191 million).

Topping up the commitments from the French government and other investors (Bharti Space's 150 million euro), the UK's latest move now pushed up the warchest to 1.5 billion euro. The Reserved Capital Increase and the rights issue are expected to be completed by the end of 2025.

Post the two transactions and investor participation (as planned), the French state would hold a stake of 29.6% and voting rights, while Bharti Space, UK govt, CMA CGM and FSP would hold 17.8%, 10.9%, 7.5%, and 4.9%, respectively.

Bharti Space currently holds a little over 24% stake in Eutelsat.

French President Emmanuel Macron, while speaking at the Paris Air Show in Le Bourget in June 2025, had called for more investment from other nations (including India) to team up with France. "This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil," he had said.

Over the past months, the satcom war in the skies has intensified as Eutelsat is positioning itself as Europe's response to Starlink.