Eutelsat - comment

Round 1 of the capital increase is underway for €828m of fresh equity. Thi sis the reserved leg to be subscribed by the French state, also via the FSP, Barthi Space, CMA, and now also His Majesty’s government. They will subscribe respectively for: €551m and €57m, €30m, €100m and €90m, altering their relative positions slightly and bringing the French state to just under 30% of voting rights plus 4.99% via the FSP. Barthi, CMA and His Majesty’s government would hold 17.88%, 7.46% and 10.89% respectively.

This round should be followed by a second open RI of approximately the same size.