Sunil Bharti Mittal, Founder & Chairman, Bharti Enterprises & Co-Chairman Eutelsat Group, he is delighted that under the leadership of President Emmanuel Macron, the French state has decided to back Eutelsat as the European Space Champion and increased its shareholding by injecting a sizeable investment into the company.

His comments came after Eutelsat announced its plans to raise €1.35 billion through a capital increase, backed by the French State and key investors, to fund its long-term strategy focused on Low Earth Orbit (LEO) satellite connectivity. "We are also thrilled to welcome the French armed forces ministry, DGA, partnership with Eutelsat in a long-term €1B contract to reserve capacity on Eutelsat’s low-Earth orbit OneWeb constellation for its mission-critical needs," said Mittal.

CEO Jean-François Fallacher called this a "new chapter" for Eutelsat, positioning it as a leader in Europe’s sovereign space ambitions. The capital raise is subject to shareholder and regulatory approvals.

Eutelsat has announced plans to raise €1.35 billion by year-end to fund its long-term strategy focused on Low Earth Orbit (LEO) satellite connectivity. The capital raise includes a €716 million reserved capital increase and a €634 million rights issue. The French State, through Agence des Participations de l'Etat (APE), along with Bharti Space Limited, CMA CGM, and FSP, will anchor the investment. The French State is set to become the largest shareholder with a 29.99% stake.

Eutelsat is one of only two global operators with commercial LEO capability and the only one focused solely on B2B and B2G markets. The LEO B2B market, currently valued at $2.1 billion, is expected to grow at a CAGR of 28% through 2029. With the acquisition of OneWeb, Eutelsat has expanded coverage and secured €3.7 billion in contracted revenues, mostly from connectivity. It will also play a key role in Europe’s IRIS² secure satellite network.

The capital increase aims to support investment in both the LEO and IRIS² constellations, while reducing net debt to 2.5x EBITDA by FY 2025–26. Revenue is projected to reach €1.5–1.7 billion by FY 2028-29, with a minimum 60% EBITDA margin.