Eutelsat, a French satellite group, saw its shares surge 25% this week amid concerns over SpaceX's Starlink restrictions in Ukraine.
Shares of French satellite group Eutelsat surged 25% this week, including a 16.5% rise on Friday, following criticism over restrictions on SpaceX's Starlink military-grade internet service in Ukraine. Ukrainian President Volodymyr Zelenskyy accused the United States, stating that Starlink's sudden nighttime shutdown hindered Ukrainian drones from intercepting Russian attacks, leading to civilian casualties. SpaceX CEO Musk, in turn, blamed the U.S. government, asserting that the Starshield system is controlled by Washington and President Donald Trump. Deutsche Bank analysts believe this incident highlights the "sovereign value" of European satellite networks, with the market viewing Eutelsat as a "credible Starlink alternative." Ukraine's Deputy Prime Minister stated that U.S. restrictions on Starlink's battlefield use have enabled Russia to intensify its attacks on Ukrainian infrastructure.
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