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Technology Stocks : Loral Space & Communications

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To: Valueman who wrote (2319)	3/23/1998 9:23:00 PM
From: brian h	Read Replies (1) of 10852

Valueman and all, Readware do have some insight information. He can predict the future, can he not. Here is a news release. That explains why LOR down the last couple of days. British Aerospace sells its Orion stake LONDON, March 23 (Reuters) - British Aerospace Plc (quote from Yahoo! UK & Ireland: BA.L) said on Monday it has sold its investment in Orion Network Systems Inc (ONSI - news) for $143 million in cash, generating a book profit before tax of $54 million. BAe said it will use the proceeds from the sale for general corporate purposes. Richard Lapthorne, Finance Director of BAe described ONSI as a non-core business for the group. ONSI, an international satellite communications company based in Maryland, agreed to merge with Loral Space & Communications Ltd (LOR - news) in October 1997. BAe sold a portion of its interest in ONSI ahead of the merger. On March 20, Loral Space said it completed the $479 million acquisition of Orion Network Systems. As at December 31, 1997 BAe's investment had a book value of $89 million which represented about a 26 percent stake in ONSI. The investment made no contribution to BAe's profits in 1997. Brian H.

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