French satellite operator Eutelsat Communications S.A. has risen over 630% since Monday, following President Donald Trump‘s announcement of a freeze in Ukraine’s military aid.
What Happened: Eutelsat’s surge comes as the French company is in talks with the European Union to replace SpaceX’s Starlink satellite service in Ukraine, according to a report by Investing.com.
CEO Eva Berneke told Bloomberg TV on Thursday that the company was looking into the requests of replacing several Starlink terminals in Ukraine. While the company already has a presence in Ukraine, Berneke said that it would take a few months to replace around 40,000 Starlink terminals.
Elon Musk owned SpaceX makes Starlink, which is a satellite internet service that delivers high-speed, low-latency broadband …
