Eutelsat Seeking to Raise $1.76B for LEO Effort

Eutelsat wants to raise $1.76 billion, which will affect its ownership and in turn require a transfer of its licenses, it told the FCC Space Bureau on Wednesday. In applications covering its OneWeb and Satelites Mexicanos subsidiaries that have U.S. market access, Eutelsat said the proposed fundraising transaction would see the French government increase its share of capital to 29.65%, up from 13.59%. It said other key shareholders will also participate, and the transaction will give France three board seats, compared with the one it has now. The additional financing will let Eutelsat accelerate its investment in existing low earth orbit projects and new initiatives, it said.