Exclusive-SES $3.1 billion Intelsat deal to gain unconditional EU antitrust nod, sources say
FILE PHOTO: Satellite model is placed on Intelsat logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
BRUSSELS (Reuters) -European satellite company SES is set to win unconditional EU antitrust approval for its $3.1-billion bid for rival Intelsat, people familiar with the matter said, creating a major European player to rival Elon Musk's Space X-owned Starlink.
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.
The European Commission, which is scheduled to decide on the deal by June 10, and SES declined to comment.
The acquisition comes as the European Union ramps up its drive for strategic autonomy in this area to reduce its dependence on U.S. companies.
The merged company would have a fleet of more than 100 geostationary Earth orbit (GEO) and 26 medium Earth orbit (MEO) satellites compared with Starlink's 5,800 satellites.
The deal, which secured unconditional clearance from the UK competition authority last week, is currently being reviewed by the U.S. Federal Communications Commission and the Department of Justice.
(Reporting by Foo Yun Chee. Editing by Jane Merriman)
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