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

To: Jeff Vayda who wrote (10635)	10/21/2003 7:21:51 AM
From: Jeff Vayda	Read Replies (2) \| Respond to of 10852

Intelsat wins Loral auction <Dont quite understand this article. Looks like a PR piece when you take into account the two references to the final ok from the BK court. Jeff Vayda> Satellite operator will buy Loral's assets for $1.1 billion pending approval from bankruptcy court. October 20, 2003: 7:40 PM EDT NEW YORK (Reuters) - Satellite operator Intelsat Ltd. said on Monday it won an auction to buy assets from bankrupt satellite maker and operator Loral Space & Communications Ltd. with a $1.1 billion bid. Intelsat said it won the auction to buy Loral's North American satellites including 4 in-orbit satellites and one satellite scheduled for launch next year. A sixth satellite that Intelsat had agreed to buy failed since the agreement. The sale is contingent on approval from a U.S. bankruptcy court.