Satellite maker SES’s shares slump on merger speculation

Published by
Reuters UK

By Dina Kartit and Elena Vardon (Reuters) -Satellite company SES’s Paris-listed shares slumped as much as 10% on Thursday after the Financial Times reported it was in talks with U.S. rival Intelsat about a possible merger. The Luxembourg-based group, which also posted half-year earnings that beat expectations on Thursday, declined to comment on the market speculation. The report signalled further consolidation in the rapidly changing industry, after Eutelsat last week said it was in talks over a possible merger with Britain’s OneWeb, which could help both companies challenge Elon Musk-owned Sp…

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