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Technology Stocks : Loral Space & Communications

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To: Jeff Vayda who wrote (10468)	6/24/2003 12:21:26 PM
From: tech101	Read Replies (1) of 10852

Just a Reminder Alcatel & Loral by: loral_turnaround (M/outer space) Long-Term Sentiment: Buy By PETER B. de SELDING Space News Staff Writer PARIS - Alcatel Space and Loral are on the verge of a broad agreement that would give Loral badly needed financial breathing room and, in return, transfer Loral's minority ownership stake in satellite operator EuropeStar to Alcatel, according to industry officials. The agreement, which officials said was nearing completion as of June 13, would also remove the risk that Loral would have to pay a big cash award to Alcatel Space following a ruling at the International Chamber of Commerce (ICC) in Geneva. The two sides have agreed to a formula in which Loral will receive $55 million in cash from Intelsat Ltd. of Washington - a payment that Loral had guaranteed its bankers it would receive before a bank- imposed June 30 deadline. The Intelsat payment is for previously agreed satellite performance incentives relating to the Intelsat 7 and Intelsat 9 satellites, for which Loral is prime contractor.

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