Meltdown for SES; boost for Intelsat
February 13, 2018
The world’s two largest satellite operators made very different impacts on their local stock exchanges on February 12th.
SES was hammered as a result of its worrying change of CEO and CFO. While some observers and analysts welcomed the news as representing a clean sweep at the top of the company, the market voted with its feet. SES’s share price crashed to a five-year record ‘low’ price of just €11.37, tumbling €1.44 (11.2 per cent).
SES will introduce the new CEO and CFO at the end-of-year results announcement on February 23rd.
Arch-rival Intelsat, in comparison, rocketed by 9.65 per cent to $2.84, and helped by last week’s announcement that Intelsat and SES would join Intel in a scheme to see some of their C-band frequencies used over the USA to help boost 5G take-up and connectivity.
Intelsat’s share price has been extremely volatile these past months and ranging in price from $7.32 as recently as October 12th but sliding down recently to just $2.48 on February 6th. In other words, Intelsat might be slowly climbing back to better days.
Intelsat will update the market with its latest results on February 26th.
Other posts by Chris Forrester:
- Amazon’s Kuiper-1 launch brought forward
- SES and Eutelsat possibly in line for C-band $bn bonus
- Consultant: “European satellite mergers are failing”
- Ligado attempts to unravel Inmarsat L-band agreement
- SpaceX complains over South Africa investment rules
- Vodafone, AST test video call game changer
- Eutelsat shares hit all time low
- SpaceX valued at $350bn
- Sky New Zealand suffering satellite problems