Eutelsat shares jump 10% as SpaceX IPO looms
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- Eutelsat shares rose 10% in early London trade, extending the stock’s weekly gain to 22%.
- Eutelsat’s market capitalization is €4.05 billion ($4.7 billion), far below SpaceX’s projected $1.75 trillion valuation at its upcoming IPO.
- Eutelsat is positioned as Europe’s leading satellite operator and the continent’s main challenger to SpaceX, a status highlighted by the upcoming IPO.
- Eutelsat’s rally occurs as European indices hover near flat and U.S. crude prices slip below $100 per barrel after President Trump’s remarks on Iran negotiations.
Why it matters: Investors in Eutelsat enjoy a 10% price jump, while the stark valuation gap with SpaceX’s $1.75 trillion IPO underscores the competitive pressure on European satellite firms to scale quickly.
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