French satellite group Eutelsat, often seen as Europe’s answer to Elon Musk’s Starlink, saw its share price plummet Wednesday following a report that Japanse investor SoftBank cut its stake in the company. Shares in Eutelsat were last trading 7.2% lower as of 4.41 a.m. ET. The moves come following a Reuters report that SoftBank has…
SpaceX is valued at around $400 billion and is critical for U.S. space access, but it wasn’t always the powerhouse that it is today. Elon Musk founded SpaceX in 2002. Using money that he made from the sale of PayPal, Musk and his new company developed their first rocket, the Falcon 1, to challenge existing…
France views Eutelsat as a strategic asset in the EU’s push for technological sovereignty. Benoit Tessier | AFP via Getty Images For years, France’s Eutelsat has been trying to build a European alternative to Elon Musk’s Starlink satellite broadband service. The company merged with British satellite venture OneWeb in 2023, consolidating the region’s satellite communications…
