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 Eutelsat.

By Gianluca Lo Nostro and Michal Aleksandrowicz (Reuters) -Shares in Eutelsat surged more than 60% on Tuesday, extending their gains after rising 68% a day before, as recent geopolitical developments raised the prospect of OneWeb satellites replacing Elon Musk's Starlink in Ukraine.

French satellite operator Eutelsat may become an analogue of Elon Musk's Starlink.Financial Times reported this.The company is negotiating with European

Franco-British satellite operator Eutelsat said on Monday it was committed to boosting Europe's autonomy in space-based connectivity and supplying internet access to war-torn Ukraine.

Eutelsat, the owner of OneWeb, a rival to Starlink, said on Tuesday that it was “actively collaborating with European institutions and business partners”, adding that it had equipment that could be “deployed swiftly in Ukraine to connect the most critical missions and infrastructures”.

Eutelsat, the French satellite operator that owns Starlink rival OneWeb, is negotiating with European governments to expand satellite connectivity in Ukraine. The company announced on March 4 that it is working with European institutions and business partners and has equipment ready for rapid deployment to support critical missions and

Eutelsat is in talks with the European Union to supply additional internet access to Ukraine, it said on Tuesday, amid a two-day surge in its shares on the prospect that OneWeb satellites could replace Elon Musk's Starlink there.