FILE PHOTO-Satellite model is placed on Intelsat logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustrationsaid on Thursday that it has ceased merger talks with Intelsat, ending what would have signaled further consolidation in the rapidly changing satellite internet industry.it was in talks with Luxembourg-based Intelsat over a possible combination of their businesses that would create an industry giant.
Bloomberg, which first reported the merger talks last year, said the transaction would have been worth more than $10 billion including debt.Intelsat, which emerged from bankruptcy last year, said that it engages in strategic conversations with potential partners regularly and it does not publicly comment on the content or outcome of those discussions.
A breakdown in discussions slows down a trend of consolidation in the satellite internet industry, which has increasingly raised competition concerns.
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