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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: JMD who wrote (6498)	7/17/1999 3:38:00 AM
From: brian h	Read Replies (1) \| Respond to of 10852

JMD and all, No deal with APT. APT Satellite Says Reports of Stake Sale to Loral Are Wrong Hong Kong, July 16 (Bloomberg) -- APT Satellite Holdings Ltd., a China-backed satellite operator, said newspaper reports saying it will sell a stake to Loral Space & Communications Ltd., Hughes and the Pacific Century Group are wrong. ''The Company's management has not heard about the said acquisition as described in the said newspapers,'' APT said in a statement. Brian Lo, the company's chairman, wouldn't elaborate or clarify the statement. He also refused to comment on the possibility that APT's controlling shareholder might sell some of its existing stake, or that the sale may proceed in a fashion not described in the newspaper articles. APT faces competition from Asia Satellite Telecommunications Holdings Ltd., a unit of Societe Europeenne des Satellite SA, which beams television pictures to almost half of Europe's households. A high-profile international shareholder would help APT compete more effectively, analysts said. Best, Brian H.