Eutelstat Communications CEO says ‘months, not years,’ are needed to get as many satellites into Ukraine as Elon Musk’s Starlink has had there.

Franco-British satellite operator Eutelsat said on Monday it was committed to boosting Europe's autonomy in space-based connectivity and supplying internet access to war-torn Ukraine.

Geopolitical developments have raised the prospect of OneWeb satellites replacing Elon Musk's Starlink in Ukraine.

Shares in Eutelsat surged more than 120% early on Tuesday, extending gains after rising 68% on Monday, as investors bet on OneWeb satellites to be the European alternative to Starlink in Ukraine. The French satellite company's shares have risen more than 270% since Friday's close,

Eutelsat is in talks with the European Union to supply additional internet access to Ukraine, it said on Tuesday, amid a two-day surge in its shares on the prospect that OneWeb satellites could replace Elon Musk's Starlink there.