BRUSSELS (Reuters) -The European Commission said on Tuesday it had unconditionally approved the proposed acquisition of Intelsat by SES, confirming a story Reuters exclusively reported earlier this month. The $3.1-billion bid made by the European satellite company for its rival will create a major European player to rival Elon Musk’s Space X-owned Starlink. “The Commission […]
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EU unconditionally clears SES’s $3.1 billion bid for Intelsat
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BRUSSELS (Reuters) -The European Commission said on Tuesday it had unconditionally approved the proposed acquisition of Intelsat by SES, confirming a story Reuters exclusively reported earlier this month.
The $3.1-billion bid made by the European satellite company for its rival will create a major European player to rival Elon Musk’s Space X-owned Starlink.
“The Commission concluded that the transaction would not raise competition concerns in the European Economic Area,” EU’s executive arm said in a statement.
Together with other European satellite companies, Luxembourg-headquartered SES is looking for greater scale to compete more effectively with Starlink and Amazon’s Project Kuiper.
(Reporting by Foo Yun Chee and Benoit Van Overstraeten; Editing by Makini Brice)