BUZZ-SES rises after Appaloosa proposals

Shares in SES SESFd.PA are up 6.5% after its shareholder U.S. hedge fund Appaloosa LP proposed to "modernise" the satellite company's share capital and called for a thinner board structure and shareholder returns programme

Appaloosa LP manages funds owning more than 7% of SES and soon-to-be merged Intelsat

SES said it would consider proxy proposals from Appaloosa LP

"This letter does not help to reduce the pressure from short sellers of the SES notes," ING says

Up to Wednesday's close, SES shares are up 26.7%​ this year