(Reuters) – Intelsat SA has ended negotiations to combine with SES SA as it was not able to reach an agreement with the satellite company and its major stakeholders, Bloomberg News reported on Wednesday citing people familiar with the matter.
SES had said in March it was in talks with Intelsat over a possible combination of their businesses that would create an industry giant.
Bloomberg News reported in March the two companies were nearing a deal valued at more than $10 billion, including debt.
Intelsat and SES did not immediately respond to Reuters’ requests for comment.
(Reporting by Nilutpal Timsina in Bengaluru; Editing by Krishna Chandra Eluri)