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Aerospace

SES confirms Intelsat merger talks

Time Stamp: March 29, 2023 10:38 AM
Source Node: 2460800

Republished By Plato

TAMPA, Fla. — SES confirmed March 29 it is in talks about potentially merging with rival satellite operator Intelsat.

“At this stage, there can be no certainty that a transaction would materialise,” SES said in a brief statement.

Both companies have previously acknowledged paying close attention to a wave of consolidation sweeping across their industry.

This year, Viasat and Eutelsat hope to gain regulatory approvals to acquire Inmarsat and OneWeb, respectively, to bolster their businesses amid rising competition from SpaceX’s Starlink broadband constellation.

Since Viasat announced its deal for Inmarsat in November 2021, both SES and Intelsat have routinely faced questions about whether they could also merge to strengthen competition, but neither have directly addressed any talks until now.

Publicly listed SES declined to comment beyond its confirmation that it has “engaged in discussions regarding a possible combination with Intelsat.”

Asked to comment on the announcement, Clay McConnell, Intelsat senior vice president of corporate communications and marketing, said: “We do not comment on rumors and speculation.”

A merged group would generate more than $4 billion in combined revenues.

Intelsat and SES are also set to receive nearly $9 billion in combined proceeds for clearing C-band spectrum for terrestrial cellular operators, although they have been locked in a long-running legal battle over how this windfall should be split.

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Source: https://spacenews.com/ses-confirms-merger-talks-with-intelsat/

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Xlera8

SES confirms Intelsat merger talks

Republished By Plato

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