Intelsat SA has ended negotiations to combine with SES SA (SESFg.LU) as it was not able to reach an agreement with the satellite company and its major stakeholders, Media 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.
Press 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 requests for comment.