Intelsat Seen Walking Out If FCC C-Band Decision Has Low Payout

The Federal Communications Commission is scheduled to deliver its position on how C-band spectrum will be reallocated Thursday, setting in motion a directive deciding how the nation’s mobile carriers will go about accessing airwaves needed for 5G technology.

According to New Street Research, there’s a significant chance the C-Band Alliance backed by Intelsat SA and SES SA “walks out of the process” should FCC chairman Ajit Pai choose a fixed payment auction that would return an amount the group can’t accept -- anything below $16 billion. But “there is still the prospect for positive equity value for Intelsat,” wrote Vivek ...