SES S. A. has agreed to buy Intelsat Holdings for $3.1 billion in a deal to create a major European player. However, it has raised investor concerns around debt, sending the buyer’s shares to a record low.
The deal, unanimously approved by the two companies’ boards, is expected close in the second half (H2) of 2025 and will be financed by cash and new debt, including hybrid bonds.
The new company aims to have a fleet of more than 100 geostationary equatorial orbit (GEO) and 26 medium Earth orbit (MEO) satellites.
