Satellite players SES and Intelsat ended talks over a big money merger, killing-off a potential deal which media speculated could have created a space connectivity player with a value of $10 billion.

The pair confirmed talks on a potential tie-up were underway in March following reports in Bloomberg claiming they were mulling joining forces.

At the time the news publication estimated the combined company would be worth $10 billion including debt.

In a brief statement today (22 June), SES announced an end to the discussions, highlighting the original disclosure stated there was no certainty a transaction would materialise.

No reason was given for the breakdown of talks.

Intelsat provides a range of satellite communications and media broadcast services for corporate customers and public sector organisations using its geostationary Earth orbit (GEO) constellation and solutions built for other satellite types.

SES delivers connectivity services from medium Earth orbit (MEO) and GEO fleets, serving a range of sectors including maritime, government and telecommunications.

News of the collapse of discussions comes less than two weeks after SES revealed its CEO Steve Collar was set to step down at the end of the month to pursue other opportunities. A search for a successor is currently underway.