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International Business Times

Business

The White House Reportedly Limited Ukraine's Access to Wartime Satellites. Shares of a European Competitor are Soaring.

Volodymyr Zelenksyy White House Donald Trump Ukraine Satellites SpaceX Eutelsat Piers Morgan

Eutelsat shares are soaring on Friday over concerns about the reliability of SpaceX's satellite network used by Ukraine during the war with Russia. (Credit: Getty Images)

Eutelsat shares are soaring on Friday over concerns about the reliability of SpaceX's satellite network used by Ukraine during the war with Russia.

The French company gained more than 20% in European trading, with analysts at Deutsche Bank saying in a note that the move shows "the sovereign value of European Satellite networks." However, they added that the company still "lacks the scale to offer the number of terminals that Starlink can provide."

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