UK to Invest €163 Million in Europe’s Starlink Rival Eutelsat

Eutelsat Communications SA, the European competitor to Elon Musk’s Starlink, said that the UK government will invest €163.3 million ($191 million), joining a France-led round into the company last month.

The additional funds bring the amount the low-Earth-orbit satellite company has raised to €1.5 billion, the company said in a statement on Thursday. The French government, Bharti Space, CMA CGM and Fonds Stratégique de Participations announced they would invest €1.35 billion last month in a deal to help the company build out its fleet of satellites.