European Communication Satellite Company secures $1.5 billion in financing, French government increases its stake to 30% to challenge SpaceX's Starlink.

According to the Securities Times APP, Eutelsat Communications SA, a European satellite communication company, is raising 1.35 billion euros (1.5 billion U.S. dollars) from the French government and other investors. This funding will help the European company expand its satellite fleet and create a service that can rival Elon Musk's Starlink.