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

To: Valueman who wrote (6693)	8/24/1999 2:23:00 AM
From: djane	Respond to of 10852

Lockheed in Talks to Sell its 14% Stake in Loral By Mathieu Robbins at Bloomberg News 23 August 1999 Lockheed Martin Corp. needs to negotiate an agreement to sell its 14% stake in Loral Space and Communication Ltd. to win antitrust clearance for its takeover of Loral competitor Comsat Corp., the Wall Street Journal Interactive reported, citing a person familiar with the negotiations. Lockheed Chief Executive Vance Coffman and Loral Chief Executive Bernard Schwartz have become involved in the negotiations in anticipation of the September 18 deadline for the Lockheed-Comsat agreement and Loral is said to have taken a hard line on how much stock can be sold at a given time. Lockheed Martin needs to sell its stake in Loral as it reached a tentative agreement with the U.S. Justice Department to divest itself of the stake within two years, the paper said. Lockheed Martin Corp.'s $2.8 billion purchase of Comsat Corp. was overwhelmingly approved by Comsat shareholders August 20, bringing the world's second-biggest aerospace company a step closer to the acquisition. Copyright 1999, Bloomberg L.P. All Rights Reserved.