Luxembourg-based SES has confirmed that its discussions about a merger with Intelsat are over.
In a short statement it said: “SES announces today that discussions regarding a possible combination with Intelsat have ceased. On 29 March 2023, SES had confirmed that the company engaged in discussions with Intelsat and that there could be no certainty that a transaction would materialise”.
The statement follows a report in Bloomberg that Intelsat had decided to withdraw from the talks, which would have created a company worth $10 billion.
They said that Intelsat was unable to reach an agreement with SES and its major shareholders.
As previously reported by Broadband TV News, news of a possible merger between the two satellite operators first emerged in August last year.
SES subsequently confirmed this March that talks were taking place with Intelsat.
