TAMPA, Fla. — European regulators have launched a preliminary investigation into Luxembourg satellite fleet operator SES’ multi-billion-dollar plan to buy U.S.-based rival Intelsat.
The European Commission set a June 10 deadline to decide whether to clear the deal with or without conditions, or open a full-scale, potentially four-month-long probe into any serious concerns about its effects on competition.
SES CEO Adel Al-Saleh told analysts during the company’s April 30 earnings call that the operator anticipates closing the transaction early in a previously forecasted window of the second half of 2025.
The United Kingdom’s Competition and Markets Authority (CMA) started reviewing the deal earlier this month, setting a June 12 deadline for its initial investigation.
The CMA could also choose to initiate a more detailed analysis of the merger, which John Worthy, a partner at law firm Fieldfisher, said is typically concluded within 24 weeks but may be extended by up to eight more weeks.
“In that case, the timeline for closing could extend to late 2025/early 2026,” he said via email.
The transaction requires clearances across multiple jurisdictions due to the global scale of both businesses, which combined would operate more than 100 geostationary and 26 medium Earth orbit (MEO) satellites.
Together, the companies also plan to deploy an additional eight geostationary and seven MEO satellites before the end of 2026, significantly expanding capacity to take on growing broadband competition from SpaceX’s Starlink network in low Earth orbit (LEO).
Al-Saleh said during the earnings call that the merger had already cleared smaller regulatory approvals in countries such as Brazil.
However, he listed the European Commission and CMA as among the most significant remaining reviews, along with the Federal Communications Commission and Department of Justice in the United States.
Regulators are likely to examine whether the merger could lessen competition in…
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