SGBAF - Satellite firm SES confirms merger talks with Intelsat

2023-03-29 13:08:24 ET

Satellite company SES ( OTCPK:SGBAF ) has confirmed merger talks with Intelsat ( OTCPK:INTEQ ) that could result in a $10B company scaled up to compete in a consolidating sector.

"In response to rumors in the market, SES S.A. confirms that the company has engaged in discussions regarding a possible combination with Intelsat," SES said in a statement.

"At this stage, there can be no certainty that a transaction would materialize," the company added .

But it's seeking to bulk up with such a combination as soon as in the next few weeks, Bloomberg reported.

Such a deal would add to the other potential multibillion-dollar combinations in Europe's satellite market. Eutelsat ( OTCPK:ETCMY ) has been trying to acquire the rest of Britain's OneWeb in a $3.4B transaction, and Viasat ( VSAT ) is pursuing approval for a $7.3B acquisition of Inmarsat .

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