Shares of French satellite company Eutelsat surged, reaching a 60% gain on Tuesday, March 4, 2025, after a 68% gain earlier. This came amid the prospect of replacing Elon Musk’s Starlink satellites with the OneWeb system in Ukraine, Reuters reports.
The conflict between Ukrainian President Volodymyr Zelensky and former US President Donald Trump has cast doubt on Starlink's continued presence in Ukraine, pushing Eutelsat shares up significantly.
Experts note that the shares rose due to expectations that the Ukrainian army's Starlink contract will be transferred to OneWeb, the satellite network of Eutelsat, which is the best alternative. In addition, US President Trump announced the suspension of military aid to Ukraine, which may stimulate Europe to become more actively involved in providing Internet connectivity for the country.
Eutelsat has expressed its readiness to strengthen European satellite autonomy, as well as to promote the development of Internet communications in Ukraine, confirming its support for the expansion of satellite infrastructure for Europe.
These developments have been a major boost to growth for Eutelsat, which has previously struggled with debt and stiff competition from Starlink. The company has made significant progress since its stock plunged in February.