Intelsat, SES end merger talks - source

Image: SES

Intelsat has ended merger talks with SES, a source familiar with the matter said on Wednesday, ending what would have signalled further consolidation in the rapidly changing satellite internet industry.

SES had said in March it was in talks with Luxembourg-based Intelsat over a possible combination of their businesses that would create an industry giant.

Bloomberg News, which first reported the move, said Intelsat was not able to reach an agreement with SES and its major stakeholders.

SES had said in March it was in talks with Luxembourg-based Intelsat

Bloomberg had also reported in March the two companies were nearing a deal valued at more than US$10-billion, including debt.

Intelsat, which emerged from bankruptcy last year, said it engages in strategic conversations with potential partners regularly and it does not publicly comment on the content or outcome of those discussions.