New Skies Satellites [NYSE: NSK], a Hague, Netherlands-based satellite communications company, has acquired through its previously announced share repurchase program more than 12 million ordinary shares, or 92 percent of the total authorized buy back program, at an average price of $4.01 per share.

As part of the share repurchase program, New Skies bought back shares from its pre-IPO shareholders, including the stakes held by Deutsche Telekom, KDDI Corp., SingTel Optus, Singapore Telecom and Teleglobe. New Skies intends to buy back the remaining shares under a share purchase program following the announcement of the first quarter results on May 7.

Goldman Sachs International and ABN AMRO Rothschild are acting as advisors to the company, and Goldman Sachs is serving as agent for the share repurchase program.