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Technology Stocks : Loral Space & Communications

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To: Don Limb who started this subject	9/10/2002 11:58:34 AM
From: SafetyAgentMan	Read Replies (1) of 10852

Report: Companies Eyeing Eutelsat Deal? Is a skake-up in the works for the fixed satellite services (FSS) business? The Wall Street Journal reported Monday that PanAmSat, the commercial satellite arm of Hughes Electronics, and Washington, D.C.,-based Intelsat have launched rival bids for Eutelsat, one of Europe's largest satellite service companies. The companies declined comment on the report. The Journal article added that no agreements have been reached, and talks are likely to drag on for weeks. The newspaper said only Intelsat has submitted a formal offer for Eutelsat, described by officials as a hostile bid topping $4 billion. And what if PanAmSat is the winning bidder? The commercial satellite company could become a much bigger deal for Charlie Ergen and EchoStar, which will get PanAmSat whether or not Ergen and Co. can complete their pending $26 billion merger with DirecTV and Hughes. If a deal can get done, the winning company could become an FSS powerhouse, with a combined fleet of at least 38 satellites and annual revenue of more than $1.5 billion, the Journal said.

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