Europe's answer to SpaceX rises 18% as Ukraine's Starshield limits raise concerns
Eutelsat's shares soared this week and continued climbing on Friday as its competitor Starshield drew criticism over its limitations in Ukraine.
TL;DR
- Eutelsat shares soared by 17.7% on Friday and 25% over the past week.
- Criticism emerged after SpaceX suddenly restricted Ukrainian military access to its Starshield systems.
- Ukrainian President Zelenskyy accused SpaceX of imposing restrictions without warning, leading to civilian deaths.
- SpaceX CEO Elon Musk stated that Starshield systems are under U.S. government control.
- Markets see Eutelsat as a credible European alternative to Starlink amid these disruptions.
- Eutelsat consolidated with OneWeb in 2023 to challenge Starlink's market dominance.
- Russia has reportedly increased attacks on Ukrainian infrastructure, exploiting the Starlink restrictions.
- Ukraine's deputy minister highlighted that Russia is taking advantage of the U.S. limiting Starlink use on the battlefield.