Latest news with #EutelsatCommunicationsSA
Bloomberg
05-05-2025
- Business
- Bloomberg
Eutelsat Replaces CEO as Europe Pushes to Create Starlink Rival
Satellite operator Eutelsat Communications SA replaced Chief Executive Officer Eva Berneke with a telecommunications executive as Europe seeks to develop a homegrown alternative to Elon Musk's Starlink. Jean-François Fallacher, who was previously CEO of Orange SA's French unit, will take over on June 1, the French satellite company said in a statement Monday.
Bloomberg
07-03-2025
- Business
- Bloomberg
Goldman Analysts Make U-Turn on Eutelsat Rating After Epic Rally
Goldman Sachs Group Inc. analysts raised their rating on Eutelsat Communications SA shares to neutral less than two weeks after adopting a sell stance that would have missed the stock's meteoric rise. Eutelsat, seen as a leading beneficiary of European plans to boost defense spending as the US scales down military commitments to the continent, has surged 400% this week. The stock is trading 13% lower on Friday.
Bloomberg
07-03-2025
- Business
- Bloomberg
Eutelsat's Stunning Market Gains Leave Short Sellers Scrambling
It was US President Donald Trump's furious Oval Office clash with his Ukrainian counterpart last Friday that convinced fund manager Hugo Squire it was time to buy bonds in Eutelsat Communications SA. The French satellite operator's debt was trading at near-distressed levels, with some money managers citing it as a popular short bet for hedge funds and trading desks. This week though, the unfolding signs of a geopolitical shift, and Europe's race for an alternative to Elon Musk's Starlink are driving a stunning reversal, lifting shares by about 400% and pushing its bonds well above face value.
Bloomberg
05-03-2025
- Business
- Bloomberg
Italy Is Getting Cold Feet Over Deal to Use Musk's Starlink
By , Alessandra Migliaccio, and Donato Paolo Mancini Save The Italian government is having growing doubts about closing a €1.5 billion ($1.6 billion) deal with Elon Musk's Starlink in light of the US pullback from commitments to European security, people familiar with the matter said. Possible alternatives to Starlink for secure satellite-based communications to the government include Eutelsat Communications SA, according to the people, who asked not to be identified because the talks are confidential. Musk, a close ally of US President Donald Trump, is also seen as an unreliable partner by some in Meloni's administration, they said.
Bloomberg
04-03-2025
- Business
- Bloomberg
Starlink Rival Eutelsat Surges on European Defense Spending Plan
Shares of Eutelsat Communications SA more than doubled this week, the French satellite provider's biggest ever two-day gain, after European Union politicians pledged to boost defense spending and the US paused aid to Ukraine. Eutelsat shares soared as much as 123% on Tuesday to €4.50, and were up 47% at 11:15 a.m. in Paris. The gains followed a 68% increase on Monday.
