Italy’s Lombardy Taps Elon Musk’s Starlink For €4 Million Rural Internet Pilot

Italy’s Lombardy region will test whether Elon Musk’s Starlink satellites can help close the digital divide, selecting a consortium using the low-orbit network for a €4.1 million pilot project to provide high-speed internet.

While officials did not name the consortium publicly, a source familiar with the matter told Reuters that the $4.64 million project will utilize Starlink’s growing satellite constellation. On Stocktwits, the retail sentiment around SpaceX dipped to ‘bearish’ from ‘neutral’ a day ago.

The report noted that the initiative marks one of the first government-backed efforts in Europe to formally assess Starlink’s viability for public broadband solutions.

According to documents seen by Reuters, a joint proposal from Swisscom’s Fastweb and Italian defense group Leonardo’s satellite unit, Telespazio, has been awarded the pilot project.

The report added that the plan has been announced to address Italy’s delays in state-backed rollout plans for high-speed telecom networks in rural areas. It noted that the latest European Union data indicated coverage of 36.8% last year, compared to an EU average of 60%.

Earlier this year, Stalink asked to acquire additional spectrum in Italy to enhance its satellite communications network. It had applied to the Italian authorities for access to E-band spectrum to boost communications between its three ground stations in the country two years ago, but approval remains stalled.

The broader markets were in the green during midday trade on Thursday. The SPDR S&P 500 ETF (SPY) gained 0.4% and the SPDR Dow Jones Industrial Average ETF (DIA) rose 0.3%. The Invesco QQQ Series 1 Trust (QQQ), which tracks the tech-heavy Nasdaq 100, climbed 0.8%. 

(Exchange rate: €1 = $1.16)

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