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2023 06 21T202138Z 3 LYNXMPEJ5K0U0 RTROPTP 4 INTELSAT RESULTS | Business Express
Headlines

Intelsat, SES end merger talks – source

Intelsat, SES end merger talks – source

By Nilutpal Timsina

(Reuters) -Intelsat has ended merger talks with SES SA, a source familiar with the matter told Reuters on Wednesday, ending what would have signaled further consolidation in the rapidly changing satellite internet industry.

SES had said in March it was in talks with Luxembourg-based Intelsat over a possible combination of their businesses that would create an industry giant.

Bloomberg News, which first reported the move, said Intelsat was not able to reach an agreement with SES and its major stakeholders.

Bloomberg News had also reported in March the two companies were nearing a deal valued at more than $10 billion, including debt.

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Intelsat, which emerged from bankruptcy last year, told Reuters it engages in strategic conversations with potential partners regularly and it does not publicly comment on the content or outcome of those discussions.

SES did not immediately respond to a request for comment.

(Reporting by Nilutpal Timsina in Bengaluru; Editing by Krishna Chandra Eluri)

 

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