Loral, PSP Acquisition Of Telesat Gains FCC Approval
[10-05-07 – Satellite Today] The Federal Communications Commission (FCC) has approved Loral Space and Communications and its partner’s acquisition of Telesat Canada, Loral announced Oct. 5.
Loral and the Public Sector Pension Investment Board (PSP Investments) remain on schedule to close the transaction later this month. The joint venture company agreed to acquire 100 percent of Telesat’s stock for CAD 3.25 billion. ($2.8 billion) in December 2006. The Canadian regulatory board, Industry Canada, approved the deal last month.