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Technology Stocks : Loral Space & Communications

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To: Don Limb who started this subject	8/19/2003 9:43:50 PM
From: ebg51	of 10852

And this one too. EchoStar Mulls Offer for Loral Space's Assets By TSC Staff 08/19/2003 09:09 PM EDT EchoStar Communications (DISH:Nasdaq - commentary - research) is considering a $1.45 billion offer for the assets of bankrupt satellite operator and maker Loral Space & Communications (LRLSQ:OTC BB - commentary - research). "EchoStar's interest reconfirms the value of the assets assembled by Loral over the years," said Loral CEO Bernard L. Schwartz. "We will consider all bids received very carefully, noting that our current plan is to emerge from the bankruptcy process with a viable, ongoing satellite services and manufacturing business." (TSC's Scott Moritz covered Loral's bankruptcy filing last month.) Reuters reported that EchoStar said Monday it could be interested in buying Loral's North American assets for $5 million more than Intelsat's $1 billion offer, and could potentially pay $450 million more for the rest of Loral's assets. Intelsat was approved as the lead bidder for Loral's North American assets on Monday in U.S. Bankruptcy Court in New York, Reuters reported. The final deadline for bids is Oct. 15, with the auction scheduled for Oct. 20.

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