Starlink Rival Eutelsat's Share Price Triples In Just Three Days

The French satellite groups shares have almost tripled in value since Fridays close, after the clash between Ukrainian President Volodymyr Zelensky and US President Donald Trump raised to question Starlinks future in Ukraine.

Shares are up on the prospect of switching the Ukrainian armys contract from Starlink to Eutelsats OneWeb and overall on the fact that OneWeb is the best like-for-like alternative to Starlink, said Stephane Beyazian, analyst at Oddo BHF.

A White House official said anonymously on Monday that Trump would pause all military aid to Ukraine, paving the way for Europe to step up its efforts in supplying the country. The European Commission also proposed on Tuesday an 800-billion defence plan for Europe.

Eutelsat on Monday doubled down on its commitment to boosting Europes satellite autonomy and providing internet access to Ukraine.

Yesterdays remarks by Eutelsat they are committing additional satellite capacity to the region highlights its importance for European defence capabilities, ING analyst Jan Frederik Slijkerman said.