Intelsat SA has recently decided to halt discussions with SES SA regarding a potential merger. The satellite company and its major stakeholders were unable to reach an agreement, leading to the termination of negotiations.
In March, SES had announced that it was engaged in talks with Intelsat, based in Luxembourg, exploring the possibility of combining their businesses to create a formidable player in the industry.
At the time, according to the sources, the potential deal was nearing completion and could be valued at over $10 billion, including debt.
Intelsat, that emerged from bankruptcy in the previous year, stated to the sources that it frequently engages in strategic conversations with prospective partners. However, the company does not provide public comments on the specifics or outcomes of such discussions.
As of now, SES has not responded to a request for comment on the matter.
It would have represented a significant move toward consolidation in the fast-evolving satellite internet sector, enabling competition against industry players like SpaceX’s Starlink, owned by Elon Musk, and Amazon.com’s Project Kuiper.
