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Intelsat, SES end merger talks – source
Global Banking & Finance Review®
Company
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.
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)
A merger is a business combination where two companies join to form a single entity, often to enhance competitiveness, expand market reach, or achieve operational efficiencies.
The satellite internet industry provides internet access via satellite technology, enabling connectivity in remote areas where traditional broadband services may not be available.
Corporate strategy refers to the overall plan and direction a company takes to achieve its goals, including decisions on mergers, acquisitions, and partnerships to enhance growth and profitability.
Stakeholders are individuals or groups that have an interest in a company's operations and outcomes, including employees, customers, investors, suppliers, and the community.
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