Loral Space & Communications Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Loral Space & Communications

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: ebg51 who wrote (10850)	6/29/2006 3:47:31 PM
From: Peter Dierks	of 10852

Intelsat to Complete Purchase of PanAmSat By PETER de SELDING Staff Writer posted: 20 June 2006 11:08 am ET PARIS -- With the final U.S. government regulatory approval now secured, Intelsat will complete its purchase of PanAmSat on July 3, Intelsat announced June 20. The merger will create the world's largest commercial satellite-fleet operator, ahead of SES Global of Luxembourg, which itself has grown larger this year with the purchase of competitor New Skies. The last regulatory hurdle, that of the U.S. Federal Communications Commission, was cleared June 19 when the agency gave the go-ahead. There had been no public opposition to the deal from among Intelsat's competitors. Bermuda-headquartered, Washington-based Intelsat is paying $3.2 billion in cash and assuming $3.2 billion in PanAmSat debt. The combined company will have a fleet of 52 satellites and pro-forma 2005 revenues of $2.03 billion. "The closing of the merger will open a new chapter for our industry and our customers, who will benefit from expanded services and improved network flexibility," Intelsat Chief Executive David McGlade said in a June 20 statement. space.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next