The UK has announced a major investment of €163.3 million (about $191 million) in Eutelsat, a European satellite company working to compete with Elon Musk’s Starlink. This adds to France’s much larger funding effort and brings the total investment to €1.5 billion.

This move is part of Europe’s broader plan to reduce reliance on U.S. and other foreign technologies, especially in areas like defense and space communication, a push that gained urgency after the war in Ukraine and former U.S. President Donald Trump’s "America First" policies.

The funding will help strengthen Eutelsat's position as a key player in satellite internet services. Eutelsat, which owns OneWeb, operates a huge network of satellites and is the second-largest in the world, behind Starlink.

French President Emmanuel Macron, currently visiting the UK, thanked Britain for its support in a message on social media. Eutelsat’s stock responded positively, jumping up to 10% in early Paris trading.

France plans to become Eutelsat’s biggest shareholder later this year by contributing €750 million, increasing its ownership to nearly 30%. Meanwhile, Britain will keep its 10.89% stake, ensuring it maintains influence despite Brexit and avoids having its stake reduced by the new capital injection.

The UK also retains a special "golden share" in OneWeb, giving it the power to veto certain decisions, a sign of the strategic importance London places on the company.

British Science and Technology Minister Peter Kyle described the investment as a step toward strengthening Europe’s space security. "With growing threats in space, secure satellite communication is now critical for national safety," he said.

The deal could also bring the UK into the EU’s upcoming satellite program, IRIS², in which Eutelsat plays a major role.

The UK originally bought into OneWeb in 2020 as part of a $1 billion rescue deal. Since merging with Eutelsat in 2023, the company now manages 34 large satellites in orbit and over 600 smaller ones, a powerful global network rivaled only by Starlink.