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In hunt for Starlink alternative, Ukraine partners with Nokia and satellite maker ICEYE

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Core Development: In hunt for Starlink alternative, Ukraine partners with Nokia and satellite maker ICEYE
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Market & Financial Impact: With SpaceX imposing speed limits on Starlink in Ukraine and hampering military operations, Kyiv is looking for alternatives.
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Actionable Insight: Monitor price volume action at market open; check key technical support/resistance levels.

After SpaceX restricted use of its Starlink and Starshield satellite internet services in Ukraine, causing fast-moving drones to disconnect and drop out of the sky, Kyiv is looking for alternatives.

Ukraine's Ministry of Defense said on Thursday that it has signed a letter of intent to develop new defense and satellite communication capabilities in partnership with Finnish tech companies Nokia and ICEYE, which makes satellites.

"Modern warfare has proven that reliable communications are a matter of national security," Ukraine President Volodymyr Zelenskyy said in a statement. "We must all rely on capabilities that we can control."

Zelenskyy also announced a partnership with Norway this week to jointly develop air defense and communications systems that could serve as an alternative to Starshield.

Chad Anderson, founder and CEO of venture capital firm Space Capital, said such an alternative could be "two to three years away" and that "matching Starlink's scale is a longer road."

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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