Intelsat has ended merger talks with SES, ending the further consolidation in the rapidly changing satellite internet industry, Reuters news report said.
Intelsat was not able to reach an agreement with SES and its major stakeholders.
SES announced on June 22 that discussions regarding a possible combination with Intelsat have ceased. SES did not reveal reasons for the end of its disucssions with Intelsat.
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.
Bloomberg News had reported in March the two companies were nearing a deal valued at more than $10 billion, including debt.
SES said in March it was in talks with Luxembourg-based Intelsat over a possible combination of their businesses that would create an industry giant.
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.