His complicity with Giorgia Meloni may not allow him to go all the way. In this month of March 2025, Elon Musk is losing a major contract with Italy and the President of the Council of Ministers, a member of the far-right party "Fratelli d'Italia".
In January, the Bloomberg agency had noted that Italy wanted to make Starlink its new communications system for the Army and the government's emergency satellite internet system. As a result of the US withdrawal from its European security commitments, Italy would have more and more doubts about choosing Starlink, and signing such a contract estimated at 1.5 billion euros.
Bloomberg published a new dispatch on Thursday, March 5, citing sources close to the matter, who preferred to remain anonymous. In the confidential talks, Eutelsat Communication SA would find itself in a privileged position to replace Starlink by signing an agreement with the Italian government.
In addition to President Donald Trump's recent decisions on European, Canadian, Mexican and Chinese customs fees, as well as the withdrawal of European security commitments, Elon Musk would be seen as an unreliable partner by members of the Meloni administration.
Eutelsat jumps 120% on the Paris stock exchange
When asked, Eutelsat did not wish to comment on the project with the Italian Army. A spokesperson for the company born in 1977 from an intergovernmental organization of 17 European countries declared: “Eutelsat regularly engages with European governments and institutions on secure satellite communications.”
Geopolitical developments and the need to “find viable alternatives to SpaceX” were reportedly discussed at a meeting between Giorgia Meloni and her ministers on Tuesday, March 3. According to Bloomberg's sources, President Sergio Mattarella was among those who strongly favored examining new options, in parallel with that of SpaceX with Starlink.
For France, a contract between Eutelsat and Italy would be welcome, while the company's headquarters are based in Paris. In orbit, and even if Starlink's lead is overwhelming, the European constellation ranks second among the largest satellite operators. The company's shares rose to their highest level since 2022.
Since the verbal altercation between Ukrainian President Volodymyr Zelensky and Donald Trump in the Oval Office, Eutelsat shares have even doubled, up 120% at the close on Tuesday, after a session up 68% on Monday. Strong speculation born of the possibility of a withdrawal of Starlink in Ukraine, and urgent use of the European service.
Source: Bloomberg
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