Forget humble space tech; Eutelsat just set sail for space warfare.
What a way to open a PR: “We’re thrilled the UK is buying shares,” said nobody except PR teams. In reality, governments are unlocking wads of cash to stop Musk’s Starlink from colonizing low Earth orbit.
Meanwhile France is playing cosmic Monopoly: cash in as APE snacks up Bpifrance shares, sealing Eutelsat as its satellite crown jewel. The UK’s reframed its “spy-in-the-sky” veto as a noble gesture of support, “For your resilience, dear Europeans!” Sure.
Yet funds alone don’t launch satellites. Debt is still gargantuan, leverage still perilous. And the capex needed for LEO build-out and the IRIS² project remains in the multi-billion territory. But fear not, more taxpayer-backed heroics are on the horizon.
Governance structures will be re-jigged. Board seats traded like strategic chess pieces. Independence? Just enough jargon to satisfy regulators.
So yes, Europe’s satellite dream is being reconceived, under watchful eyes and underwritten by public treasure.
Welcome to modern space sovereignty, where competition is politely called “a challenge”.
