(CercleFinance.com) – SES announced on Thursday that it has freed up C-band spectrum in the United States ahead of schedule, paving the way for the receipt of a three billion dollar payment by end of the year.
The satellite operator indicates that the US Federal Communications Authority (FCC) has validated phase II of its frequency reassignment and relocation program, which was subject to an accelerated procedure.
This step comes as SES completed Phase I of the project in 2021, which plans to free up part of the C-band spectrum to allow US mobile operators to deploy their 5G services.
As such, SES had already received an amount of one billion dollars.
Knowing that the process was expected to be finalized by December 2023, SES finished releasing C-band ahead of schedule after more than three years of operations.
This finalization should lead it to receive the three billion remaining dollars (pre-tax) envisaged within the framework of the agreement during the fourth quarter.
Following these announcements, the SES share rose by 0.2% on Thursday morning on the Paris Stock Exchange, which brings its rise to nearly 13% since the start of the year.