The French state is considering a major strategic investment in Eutelsat. A report from French newspaper Le Monde — wholly unconfirmed — suggests that Eutelsat needs to find around €4 billion of extra funding to maintain its OneWeb fleet of 650 satellite, now seen as the only viable alternate to Elon Musk’s Starlink, as well as pay for its commitment to the IRIS² super-secure mega-constellation.
Le Monde says that further investment in OneWeb from the UK government and India’s Bharti Group is far from certain. The newspaper talks of Eutelsat being “in fragile financial health”.
However, other reports — wholly unconfirmed — say that behind the scenes there is a possibility that Eutelsat CEO Eve Berneke would be replaced.
French financial newspaper La Tribune adds that “For nearly three months, the French government has been scrambling to save Eutelsat”.
Questioned by La Tribune, Berneke, who confirmed the discussions with the government, was pleased to note that the French government considers the operator to be “a fundamental strategic asset for France and Europe” and “for the European IRIS² constellation.” However, as one observer suggests, the French operator, currently in financial difficulty, is now considered “the weak link” in the IRIS² constellation, which is crucial for the sovereignty of France and Europe in terms of secure space communications.”
