Concerns over Starlink's future in Ukraine are increasing interest in Eutelsat, an alternative satellite internet service

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 .

Eutelsat aims to deploy 40,000 terminals to replace Starlink in Ukraine soon. Talks with suppliers and the EU Commission are ongoing.

French satellite operator Eutelsat Communications SA said talks with the European Union to replace Elon Musk’s Starlink in Ukraine are intensifying as the US pulls back from its commitments there.

European authorities are working with Eutelsat, a French satellite operator, to deploy more satellites in Ukraine. View on euronews

Fears of a Starlink shut-off at the front line have racked Ukraine. European satellite internet firms took the opportunity to step forward as replacements — but even collectively, they are unlikely to fill the void in coverage that Starlink's shut off would leave.

Shares of French satellite operator Eutelsat Communications (EPA:ETL) soared 387 percent last week, driven by speculation that the company could replace Elon Musk’s Starlink as Ukraine’s primary satellite internet provider.