(This May 2 story has been corrected to amend the value of the deal to $3.1 billion, from 3.1 billion euro, in paragraph 1) BRUSSELS (Reuters) – EU antitrust regulators will decide by June 10 whether to clear European satellite company SES’s $3.1 billion acquisition of Intelsat, according to a filing on the European Commission […]
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EU antitrust regulators to decide on SES, Intelsat deal by June 10
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(This May 2 story has been corrected to amend the value of the deal to $3.1 billion, from 3.1 billion euro, in paragraph 1)
BRUSSELS (Reuters) – EU antitrust regulators will decide by June 10 whether to clear European satellite company SES’s $3.1 billion acquisition of Intelsat, according to a filing on the European Commission website.
SES, which operates a multi-orbit fleet of around 70 satellites providing services such as video broadcasting, government communications and broadband internet and is seen as an alternative to SpaceX’s Starlink, sought EU approval for the deal on April 29.
The EU competition enforcer can clear the deal with or without remedies after the end of its preliminary review or it can open a full-scale four-month long investigation if it has serious concerns.
The deal by the Luxembourg-based satellite operator would create a major European player to better compete with Elon Musk’s SpaceX-owned Starlink, and Amazon’s Project Kuiper.
(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)