Europe’s Eutelsat Surges 400%

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Hedge funds and trading desks who bet against French satellite company Eutelsat were left scrambling to manage their positions after its bonds and shares soared

Europe’s race for an alternative to Elon Musk’s Starlink put the firm and its OneWeb subsidiary firmly into spotlight, lifting shares by about 400% and pushing bonds from near distressed levels to well above face value. In the space of a week, it has become the darling of investors, both institutional and retail after earlier being one of the most popular short seller targets in the region

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