SES faces UK scrutiny over Intelsat acquisition

Deal News | Apr 16, 2025 | EIN

SES faces UK scrutiny over Intelsat acquisition

The UK’s Competition and Markets Authority (CMA) has initiated a Phase 1 inquiry into SES’s proposed acquisition of Intelsat Holdings, both major players in the global satellite communications market. The investigation seeks to determine if the merger could lessen competition in UK markets, potentially leading to a more detailed Phase 2 examination by mid-2025. This inquiry occurs amidst broader discussions concerning consolidation in the European space and satellite sectors. At the Europa Forum in Brussels, European Commissioner for Defence and Space, Andrius Kubilius, expressed his support for mergers to build globally competitive industry champions, while emphasizing the need to also support innovative SMEs. Additionally, Kubilius pointed to Europe's challenges in space launch capabilities, underscoring the need for revitalization to compete with global giants like SpaceX. The outcome of the CMA’s scrutiny could significantly impact the trajectory of consolidation within the European satellite industry.

Sectors

  • Satellite Communications
  • Aerospace and Defense

Geography

  • United Kingdom – The UK’s Competition and Markets Authority is conducting the investigation, making the UK a central geography in this article.
  • Europe – Broader discussions on industry consolidation and challenges in space capabilities are taking place within Europe, involving entities and individuals with a pan-European focus.

Industry

  • Satellite Communications – The article involves SES and Intelsat, major firms in the satellite communications industry, which is the focus of the merger and subsequent regulatory scrutiny.
  • Aerospace and Defense – Kubilius's remarks touch on the Aerospace and Defense sector's challenges in Europe, highlighting issues related to space launch capabilities.

Financials

    Participants

    NameRoleTypeDescription
    SESTarget CompanyCompanyLuxembourg-based satellite communications firm involved in the proposed acquisition of Intelsat.
    Intelsat HoldingsTarget CompanyCompanyRival satellite operator to SES involved in the proposed merger under investigation.
    Competition and Markets Authority (CMA)Regulatory AuthorityGovernmentUK government authority conducting the Phase 1 investigation into the SES-Intelsat merger.
    Andrius KubiliusEuropean Commissioner for Defence and SpacePersonSupportive of industry consolidation in the space sector, emphasizing global competitiveness and innovation.