SES cleared by the United Kingdom to buy Intelsat
The long-established Luxembour satellite company SES has now gotten regulatory approval from the United Kingdom to buy another long-established satellite company, Intelsat, with the purchase price €2.8 billion.
SES’s €2.8 billion acquisition of Intelsat was cleared by the UK’s competition regulator, in a move that will create a satellite giant to better compete with Elon Musk’s Starlink. The Competition and Markets Authority decided on the basis of “the information currently available to it,” to not subject the deal to an in-depth probe, it said in a statement on Friday.
The deal still needs to be approved by the European Union, which has set June 10th as the deadline for a decision.
This merger is because these older satellite companies are presently losing in competition with the many new low-orbit satellite constellations by new companies, led mostly by Starlink. By merging they hope to compete better.
The long-established Luxembour satellite company SES has now gotten regulatory approval from the United Kingdom to buy another long-established satellite company, Intelsat, with the purchase price €2.8 billion.
SES’s €2.8 billion acquisition of Intelsat was cleared by the UK’s competition regulator, in a move that will create a satellite giant to better compete with Elon Musk’s Starlink. The Competition and Markets Authority decided on the basis of “the information currently available to it,” to not subject the deal to an in-depth probe, it said in a statement on Friday.
The deal still needs to be approved by the European Union, which has set June 10th as the deadline for a decision.
This merger is because these older satellite companies are presently losing in competition with the many new low-orbit satellite constellations by new companies, led mostly by Starlink. By merging they hope to compete better.