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Satellite operators SES and Intelsat in merger talks – FT

(Reuters) – Luxembourg-based satellite tv for pc group SES SA is in talks to merge with its U.S. rival Intelsat SA, the Monetary Occasions reported on Thursday, signaling consolidation within the quickly altering and aggressive trade.

Final week, French satellite tv for pc firm Eutelsat stated it was in talks over a potential all-share merger with British rival OneWeb.

Elon Musk’s SpaceX has raced forward of rivals to construct a constellation of satellites by investing closely in infrastructure and lately broke its file of the variety of rockets launched in a single yr.

Intelsat and SES are in energetic discussions concerning the construction of any potential deal, the FT report stated, citing three individuals acquainted with the matter, including that the discussions had been at an early stage and there’s no assure of a deal being reached.

“Neither desires to be the final one standing,” the report quoted one of many three individuals as saying.

SES, which has a market capitalisation of three.57 billion euros ($3.63 billion) in line with Refinitiv Eikon information, declined to touch upon the report, whereas Intelsat didn’t instantly reply to Reuters’ request for remark.

In Could, SES stated it expects demand for its providers in Ukraine to have a constructive impact on its second-half income, after reporting stronger-than-expected quarterly earnings.

($1 = 0.9841 euros)

(Reporting by Kanjyik Ghosh in Bengaluru; Modifying by Rashmi Aich)



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