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.

Europe's answer to SpaceX rises 18% as Ukraine's Starshield limits raise concerns

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.