Eutelsat Jumps 19% as Starshield Curbs Ukraine Access and Lifts Alternative Bet
Updated
Updated · CNBC · Oct 16
Eutelsat Jumps 19% as Starshield Curbs Ukraine Access and Lifts Alternative Bet
3 articles · Updated · CNBC · Oct 16
Summary
Eutelsat shares rose 19% on Friday and 25% over five days as investors cast the French group as a credible alternative after SpaceX restricted Ukrainian military access to Starshield-linked services.
Ukraine said the curbs hit battlefield connectivity without warning, with President Volodymyr Zelenskyy saying Starlink was switched off overnight and hindered drone interceptions during Russian attacks.
Elon Musk blamed Washington, saying Starshield systems were under U.S. government and President Donald Trump's control, while a Ukrainian minister said Russia was exploiting the limits to intensify strikes on bridges, railways and border crossings.
Deutsche Bank said the rally underscored the sovereign appeal of European satellite networks, but warned Eutelsat lacks Starlink's scale, with more than 600 satellites versus over 6,750 for SpaceX.