Satellite-services provider SES SA said it is holding discussions with Intelsat SA over a potential merger to create a satellite operator giant that would compete with Elon Musk's Starlink service.
The Luxembourg-based company made the disclosure on Wednesday, saying there can be no guarantee that a transaction would materialize at this stage. Bloomberg first reported that the two companies were in talks.
Last year, Paris-based Eutelsat Communications SA agreed to acquire the U.K.'s OneWeb Global Ltd. for $3.4 billion, a vote of confidence in an increasingly competitive sector that has seen the likes of Elon Musk and Jeff Bezos pour billions of dollars into space infrastructure.
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