Luxembourg: SES is in Merger Negotiations With Intelsat

Last week, SES said that it had been in merger negotiations with Intelsat, a competitor in the satellite industry. Luxembourg-based SES made the statements in reaction to a Bloomberg article claiming that a merger worth $10 billion is in the works. In a statement released in reaction to market speculation, SES confirmed that it had held talks with Intelsat about a prospective merger. There is no guarantee that a deal will close at this time. SES and Intelsat, respectively based in Luxembourg and the United States, are expected to come to terms within the next weeks. 

While satellite operators strive to compete with Elon Musk's SpaceX's Starlink and Amazon's Project Kuiper, this isn't the only prospective consolidation inside the satellite sector; French satellite provider Eutelsat is in the process of buying the UK's OneWeb. As of last month, the European Commission has begun an in-depth probe into a contract inked between American satellite company Viasat and UK satellite operator Inmarsat back in 2021 for $7.3 billion.