Global ex-Asia Telecoms Equities Starlink: Extra-terrestrial read-across for telcos Global Starlink: A partner not a disruptor: We view SpaceX's Starlink satellite internet service as largely complementary to incumbent telecom operators, helping to bridge connectivity gaps rather than present a near-term competitive threat, especially in emerging markets. Although Starlink has ambitions to compete with traditional telecoms, we think it is unlikely to emerge as a major threat: 1) government or regulatory app ...