Caixin OnlineFinance & EconomicsTop Stories Finance CIC's Space Ambitions Remain Grounded
09.25.2012 18:56

CIC's Space Ambitions Remain Grounded

Sovereign wealth fund gets part of European satellite operator, but this may not lead to technology transfer or influence in the company
By staff reporter Liu Ran and intern reporter Liu Zhuozhe

(Beijing) – China Investment Corp. (CIC) is mulling how to make the most of its recent acquisition of a minority stake in a leading European satellite operator. But whatever the move is, experts say, it's unlikely to result in a technology transfer that China craves.

The company is now the third-largest shareholder of Eutelsat Communications SA. In June, it bought 7 percent of the world's third-largest satellite operator for €385.2 million from Spanish infrastructure company Abertis, which still holds 8.35 percent of Eutelsat and is the second-largest shareholder.

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