PARIS — The French government has agreed to increase its ownership of satellite fleet operator Eutelsat, investing 717 million euros ($824 million), or 53% of Eutelsat’s planned 1.35-billion-euro capital raise, expected later this year.
The decision comes a day after the French military agreed to a 10-year contract, valued at up to 1 billion euros, to purchase Eutelsat OneWeb LEO broadband capacity and make adjustments to OneWeb to boost its security and usefulness to the military, including the addition of hosted payloads to future OneWeb satellites.
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