FCC Is Asked To Approve SES's Takeover of O3b
As part of SES's plans to buy a majority of O3b, the satellite companies are asking the FCC International Bureau to approve the transfer of control, in a series of filings Monday (see here, here, here and here). SES owns…
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slightly more than 49 percent of O3b and plans to buy another 3,431 shares, giving it a 50.5 percent stake, the companies said, saying SES also will have an option to buy the remaining shares of O3b, though if it fails to do so by Sept. 30, 2017, O3b's other shareholders can require SES to buy their shares. After the close, SES will designate eight of the 14 O3b board members, they said. The acquisition will help boost SES's competitive standing by giving it a wider portfolio, while O3b customers "will benefit from the additional services and coverage" that comes with being part of SES, including access to that company's financial assets, technical expertise and marketing resources, they said. SES said it expects to close on the O3b deal in the second half of 2016.