Eutelsat key investor will stay aboard
November 11, 2010
Paris-based The Strategic Investment Fund, Eutelsat’s second largest shareholder with a 25 per cent stake, said yesterday that it had no intention to withdraw from the satellite operator. “The performance of the company and its future strategy does not lead us to consider disengagement,” said Thierry Sommelet, Director of Investment at SIF, talking to La Correspondance de la Presse.
Earlier this week Eutelsat declared a dividend increase of 15.2 per cent on the 2008-09 pay-out, at E0.76 a share. While the past few weeks have seen Eutelsat’s share price fall back from a high point of E29 to a current E26 a share, this is still well ahead of the E21 position a year ago, and a significant doubling in value over the past 5 years.