Starlink Rival Eutelsat’s Shares Sink After Softbank Cuts Stake

Benzinga

Eutelsat shares fell after SoftBank cut its stake roughly in half, continuing its push to free up capital for AI investments. The French satellite operator, which merged with OneWeb to compete with Starlink, has struggled to gain market share as Elon Musk’s network maintains a dominant lead. Analysts say Eutelsat is increasingly viewed as a state-backed infrastructure play rather than a growth story.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Starlink rival Utilsat's share price fell sharply on Wednesday after reports that SoftBank reduced

00:08its stake in the company, according to CNBC. Reuters reported that SoftBank sold 36 million

00:13rights, equal to about 26 million shares, and roughly half its stake in the French satellite

00:18operator. The move continues SoftBank's broader effort to raise cash for new artificial intelligence

00:24investments after unloading other holdings this year. Utilsat, which merged with OneWeb in 2023,

00:30to challenge Starlink, has struggled to gain market share as Starlink maintains a large

00:34lead in satellite count and retail broadband dominance. Analysts told CNBC that Utilsat

00:40is shifting from a growth story to a state-backed infrastructure asset as Europe weighs how much

00:44capital it is willing to commit to narrow the gap with Starlink. For all things money, visit Benzinga.com.

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