Brussels, 27/11/2000 (Agence Europe) - The European Commission has approved the proposals for restructuring notified to it by Eutelsat in July 1999, in the aim of transferring the majority of its activities to a single company. A European organisation for satellite telecommunications based on intergovernmental convention, Eutelsat made a turnover of EUR 470 in 1999, owns 15 satellites and has 48 member countries. Following restructuring, Eutelsat will become a company under French law and the signatory countries will become shareholders for the new company. Thirty percent of the shares will be the subject of a public offering within two years of privatisation (that is, in July 2003). The Commission considers this operation does not, in this context, come under Article 81 paragraph 1 of the Treaty).