Eutelsat Shares Rise About 17% as Starlink Restrictions in Ukraine Draw Focus

Eutelsat shares climbed about 17% on Oct. 16 as restrictions on Starlink terminals in Ukraine drew attention to Europe’s satellite network as an alternative.

The shares closed at 1.766 euros in Paris, extending a five-session advance to 25%. Ukrainian officials said Starlink terminals moving faster than 160 kilometers per hour could not connect. Ukraine uses the links to track and intercept incoming targets.

Elon Musk said Oct. 14 that the U.S. government owns and controls Starshield, and that the U.S. military, ultimately the president, sets speed or usage limits. He described Starlink as a commercial service for civilian or defensive use.

Eutelsat merged with OneWeb in 2023 to compete with Starlink. Eutelsat has more than 600 satellites in orbit, compared with more than 6,750 for Starlink.

Serhiy Derkach, Ukraine’s deputy minister for Reconstruction, Infrastructure and Transport, said Russia was exploiting the restrictions to intensify attacks on bridges, rail lines and border crossings. He said Ukrainians were experiencing daily power outages lasting four to 12 hours.