Speaking to the AFP news agency, Eutelsat denied it is looking to acquire its competitor SES, while rumours of a possible takeover were spreading in Luxembourg during the weekend.
“There is no ongoing negotiation of a possible acquisition of SES by Eutelsat. Speculation about consolidation is not new, but an acquisition of SES by Eutelsat is not on the table.”
The rumours were sparked by an interview on RTL Luxembourg with Etienne Schneider, Deputy Prime Minister and Minister of Economy of the Grand Duchy, in which he spoke of an Eutelsat interest for SES. Schneider said he is opposed to such a take-over.
“I was informed that Eutelsat wanted to merge with SES. This would mean that the headquarters would move to Paris and that the name would disappear. The Luxembourg state would lose at the same time its influence in SES. That’s enough arguments to say no,” Schneider told RTL.
He also said: “Eutelsat is not doing so well and we will not going to watch the flagship of our industry move to Paris.”
The interview can be seen in De Journal, the daily news from RTL Télé Lëtzebuerg.
The Luxembourg state owns a 16.67% stake in the satellite operator giving it 33.33% of the voting rights, thus having a blocking minority.
