Advanced Television: Eutelsat seeks €1.5bn funding

Story from Advanced Television:

Eutelsat has reportedly held talks with investors to raise €1.5 billion to expand its low Earth orbit (LEO) satellite constellations as it seeks better to compete with Elon Musk’s satellite-broadband service Starlink.

The satellite operator is said to be in discussions to acquire funding from the French government, investor Fonds Strategique de Participations, shipping company CMA CGM and the UK government, according to a Bloomberg report. The report noted the French government’s current 13.6 per cent stake in Eutelsat could rise to 30 per cent if the funding goes through.

Eutelsat needs capital to replace its LEO craft every five to seven years – and will also require in excess of €2 billion to take part in the European Commission and European Space Agency’s proposed IRIS2 mega-constellation.