Eutelsat shares surge on deal with French armed forces

Shares in French satellite operator Eutelsat shot 10% higher on Thursday after it said it had signed a 10-year deal with the French government to provide connectivity for the country’s armed forces.

Under the €1 billion ($1.15 billion) agreement, the French military will have priority access to OneWeb satellites as well as operational and security maintenance, the company said in a statement late Wednesday.