SES, Intelsat Fall After Eutelsat Pulls Out of Consortium (1)

Eutelsat pulled out of a consortium negotiating with the U.S. over so-called C-band airwaves, in a move that may delay an agreement with U.S. regulators that could lead to windfall payments to satellite companies.

The company said it wants to take “a direct active part in the discussions,” rather than working through the C-Band Alliance consortium of satellite companies, which include SES and Intelstat.

Eutelsat’s actions may be “protectionist brinksmanship” to extract better terms from the consortium, Jefferies analysts said in a note.

The C-Band Alliance is the only stakeholder that can clear advance the process quickly because the four ...