Gilat Resolves Stock Dispute with Colombian Government
By Staff Writer | January 5, 2009
[Satellite Today 01-05-09] Gilat Satellite Networks announced a new pact with the Colombian Ministry of Communications that will resolve standoff between the two parties, resulting in the release of about $24 million worth of Gilat stock over 2009 and 2010, Gilat announced Dec. 31.
The pact addressed Gilat’s loss of about $3 million per quarter from the prior pact with the Colombian government.
Other financial details of the pact were not disclosed.