From Breakingviews - Satellite stray’s lonely orbit has a cash booster
Satellite model is placed on SES logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
LONDON, June 22 - SES and Intelsat are orbiting away from each other. After being locked in merger talks since March, the two satellite operators haveThe mooted tie-up looked shaky since the start. Both companies operate in the stagnant satellite-video market and so would have been doubling down on an old technology. And the combined company would have been burdened with a heavy initial net debt load of around 4 times combined EBITDA, according to Deutsche Bank analysts.
Still, the aborted talks mean both companies need to come up with a convincing standalone story. Luxembourg-based SES’s case is particularly tricky, given it recently
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