Investor confidence in SES evaporates
March 9, 2020
By Chris Forrester
SES shares hit an all-time low on March 6th crashing a further 5 per cent on the previous day’s trading to just €7.09.
The past week, since the company announced its plan to probably divide itself into two separate businesses and lower the annual dividend by 50 per cent, has seen its share price suffer badly.
March 2nd saw the decline start from an already depressed €9.49 to today’s level. As recently as November 2019 shares were trading in the €17.40 – €18 range.
Not helping matter are uncertainties over Intelsat which, with SES, were once the key players in the C-Band Alliance. Intelsat has yet to confirm its next moves in relation to the FCC’s plan to auction some 300 MHz of satellite spectrum over the US.
Intelsat must support the scheme or the overall FCC plan will collapse.