EU unconditionally clears SES's $3.1 billion bid for Intelsat
FILE PHOTO: Satellite model is placed on Intelsat logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
BRUSSELS :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.
