The Competition Commission finds that the proposed transaction is unlikely to substantially lessen or prevent competition in any market.
South Africa’s Competition Commission has approved a $3.1 billion deal, whereby satellite connectivity provider SES wants to acquire its rival Intelsat .the deal in April, saying on closing of the transaction , SES will pay $3.1 billion to acquire 100% of the equity of Intelsat , in a transaction which implies an enterprise value of $5 billion .
Intelsat is also headquartered in Luxemburg. It provides satellite connectivity services to companies such as DStv in South Africa. “As such, SES is not controlled by any person or firm. For completeness, the government of Luxembourg is the largest shareholder of SES. SES controls one firm incorporated in South Africa, SES Astra.
According to the watchdog, Allianz is not controlled by any person or firm since its shares are widely held.
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