SES: satellite in a spin as FCC takes stance

(CercleFinance.com) - The share of Luxembourg based satellite operator SES is plummeting almost 20% on Tuesday after a position taken by Ajit Pai, president of the Federal Communications Commission (FCC), the US telecommunications regulator.


In a series of tweets and a letter published yesterday on his Twitter account, Ajit Pai said that he backs the principle of a public auction, giving "everyone a faire chance to compete for this 5G spectrum" in preparation for the ramp-up of the fifth generation (5G) mobile phone standard.

Mr Pai also said he wants this process, which would be conducted by the FCC, bringing in money for the federal state, to be "fast".

Although the share of the French operator Eutelsat has only been slightly grazed by the affair (-0.75% at midday), that of the American Intelsat collapsed 40% on Wall Street yesterday.


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