Intelsat Expects To Expedite Closing Of Loral Asset Purchase

By | November 13, 2003 | Uncategorized

Intelsat moved a step closer to completing its $1.1 billion purchase of the North American satellite assets of Loral Space and Communications [OTCBB: LRLSQ] when the time limit recently expired for others to appeal the bankruptcy court’s previous order approving the transaction.

With no appeals filed, the deal now could be expedited and finalized by year-end. One remaining condition to the transaction is approval by the Federal Communications Commission to transfer Loral’s FCC licenses to Intelsat. Intelsat has requested expedited treatment from the FCC, and believes that it may be able to close the transaction as early as year-end.

For more on this story, see the Nov. 17 issue of SATELLITE NEWS. For more info on subscribing to PBI Media’s satellite publications, check out our Web site at http://www.satellitetoday.com.

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