Eutelsat tumbles after shareholder sells stake

Hanwha Systems

05/06/2025 09:08

** Shares in Eutelsat ETL.PA fall 12.5% after South Korea's Hanwha offered to sell its 5.4% stake in the satellite operator

** Hanwha is selling its shares at 3 euros ($3.42) apiece for about 78 million euros

** Offered price is a 13.9% discount to Eutelsat's closing price of 3.48 euros on Wednesday

** "Following internal review, the company concluded that holding the stake no longer provided meaningful value to its business operations compared to reinforcing its core business," Hanwha says

** Eutelsat shares were up 53.7% this year as of Wednesday's close

($1 = 0.8761 euros)

 (Reporting by Gianluca Lo Nostro)

 ((gianluca.lonostro@thomsonreuters.com;))