Satellite companies SES and Intelsat entered talks over a possible merger which could up space-based broadband competition against services backed by Elon Musk and Jeff Bezos, among others.
Bloomberg reported SES and Intelsat have been in discussions for a number of weeks regarding a deal which could create a company valued at more than $10 billion including debt.
The news outlet added an agreement could be reached in the coming weeks.
In a statement responding to the market rumours, SES confirmed talks had taken place, but noted “there can be no certainty that a transaction would materialise”.
SES provides satellite-based broadband services to government agencies, energy companies, ships, enterprises, aircraft and mobile operators from a constellation of more than 70 geostationary and medium Earth orbit birds (GEO and MEO, respectively).
Rocket company Space X launched a pair of second-generation SES MEO satellites in December 2022, as it moves to increase reach.
Intelsat operates a fleet of 56 GEO satellites, providing connectivity for in-flight Wi-Fi and mobile backhaul.Subscribe to our daily newsletter Back