Eutelsat slides after SoftBank cuts stake amid Starlink rivalry

Eutelsat shares fell nearly 7% after SoftBank reportedly sold 36 million rights tied to 26 million shares, cutting its stake by almost half. The satellite operator, which merged with OneWeb in 2023, remains a key European rival to Elon Musk’s Starlink, though its LEO fleet of 600+ satellites is far smaller than Starlink’s 7,800+.