Shares of French satellite operator Eutelsat skyrocketed almost 390% last week — and a potential change of tack in European defense has been helping the rally.

By Supantha Mukherjee and Gianluca Lo Nostro STOCKHOLM/GDANSK (Reuters) - Suggestions that Ukraine could lose access to Elon Musk's Starlink satellite internet system, which has been vital in maintaining its military communications as it fights Russia's invasion,

Joanna Darlington, Chief Communications and Investor Relations Officer for Eutelsat, told The Register that, over Europe, Eutelsat offers the same capabilities as Starlink in terms of coverage and latency, and the company's LEO services were already deployed in Ukraine.

Eutelsat aims to deploy 40,000 terminals to replace Starlink in Ukraine soon. Talks with suppliers and the EU Commission are ongoing.

French satellite operator Eutelsat Communications SA said talks with the European Union to replace Elon Musk’s Starlink in Ukraine are intensifying as the US pulls back from its commitments there.

Eutelstat Communications CEO says ‘months, not years,’ are needed to get as many satellites into Ukraine as Elon Musk’s Starlink has had there.

Though Ukraine is heavily reliant on Starlink at present, experts feel 'a patchwork' of European infrastructure could help replace the service—at least partially.

Suggestions that Ukraine could lose access to Elon Musk's Starlink satellite internet system, which has been vital in maintaining its military communications as it fights Russia's invasion, have focused investor interest on Starlink's smaller European rival,