Intelsat, SES End Talks to Form $10 Billion Satellite Giant
- Deal would have created giant in increasingly crowded field
- Musk and Bezos have pushed into the satellite market
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Intelsat SA and SES SA have ended talks on a merger that would have created a satellite giant to help fend off growing competition as the industry consolidates.
Discussions on a potential combination have ceased, SES said in a statement Thursday, confirming an earlier Bloomberg News report. It didn’t provide further details. A transaction could have valued the combined business at more than $10 billion including debt, Bloomberg News reported in March.