The Franco-British satellite company Eutelsat is negotiating with the European Union to provide additional access to satellite Internet for Ukraine. This is happening against the background of the increase in the value of the company's shares, caused by assumptions, that OneWeb satellites could replace Elon Musk's Starlink in the region.
A sharp rise in shares and the political background:
- Eutelsat shares have more than tripled in two days, adding over 1 billion euros to the company's market capitalization.
- The rapid growth began after the dispute between the presidents of Ukraine and the United States, which called into question the future of Starlink in Ukraine.
- European leaders agreed to increase defense spending, and the European Commission proposed a plan for 800 billions of euros to strengthen Ukraine's security.
- Termination of US military aid to Ukraine, will force Europe to act more actively.
Negotiations with the EU and the role of OneWeb:
- Eutelsat confirmed discussions with the EU regarding the possibilities of expanding satellite communications in Ukraine.
- The company also owns geostationary satellites (GEO), which can provide certain services in the region.
- The EU has previously considered the Govsatcom initiative as a potential alternative to Starlink.
- After the acquisition of the British company OneWeb in 2023 year, Eutelsat has 600 satellites in low Earth orbit (LEO).
- The OneWeb satellite fleet operates according to the same scheme, as is Starlink, providing internet connection in 125 Day of the environment at the recreation center "Dream".
Benefits of Eutelsat for Europe:
- Eutelsat states, that its LEO network provides coverage and signal delay, comparable to Starlink.
- The company confirmed its readiness to cooperate with European institutions for the rapid deployment of additional terminals in critical areas.
- Eutelsat has redoubled its efforts to strengthen European satellite autonomy and provide Ukraine with Internet connectivity.