Investing.com -- Britain will invest €163 million ($140.49 million) in French satellite operator Eutelsat, according to a report by Les Echos on Thursday that cited an Elysee source.

This investment follows a larger cash injection by France to help Eutelsat compete with SpaceX’s Starlink in the satellite communications market.

French President Emmanuel Macron, currently on a two-day state visit to the UK, acknowledged the British investment in a post on social media platform X.

"We’re over the moon to keep going with you. Together we go further!" Macron wrote, thanking Britain for continuing to "follow us on the Eutelsat adventure."

The British investment amounts to approximately £140.49 million at current exchange rates.

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