French President Emmanuel Macron threw his weight behind plans for a European satellite manufacturing champion on Friday (June 20), declaring space the next frontier for competition between world powers.
BreakdownGenerated by LeadStory AI
- France announced a $1.55 billion investment in Eutelsat to support the satellite sector.
- President Macron urged European countries to invest in satellite technology for sovereignty. 15s
- Eutelsat shares rose 27.5% following the investment announcement. 34s
- Eutelsat is positioned as Europe's main alternative to Starlink, though it is much smaller. 55s
- Analysts warn Eutelsat's debt will remain high despite the capital increase. 1m 19s