Intelsat, SES end merger talks – source
Technology
The merger was being seen as threat of consolidation to rapidly changing satellite internet industy
(Reuters) - Intelsat has ended merger talks with SES SA, a source familiar with the matter told Reuters, ending what would have signalled 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.
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.
