The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Intelsat Holdings S.A. (‘Intelsat’) of the US by Allianz SE of Germany.
Intelsat operates satellite networks, ground networks and connectivity infrastructure and provides diversified communications services to customers such as telecommunications operators, media companies, and internet service providers. Intelsat uses its satellites as relay stations in space for the transmission of voice, video, and data communications.
Allianz is the ultimate parent of the Allianz group, a global financial services company active predominantly in life and non-life insurance and asset management.
The Commission concluded that the proposed acquisition would raise no competition concerns given the absence of horizontal overlaps or vertical relationships between the activities of the companies. The transaction was examined under the simplified merger review procedure. More information is available on the Commission’s competition website, in the public case register under the case number M.10491.