Skyterra Communications Inc. announced Oct. 10 that it has executed an agreement with BCE Inc. to acquire BCE’s stake in Mobile Satellite Ventures LP (MSV).

As part of the transaction, Skyterra will swap approximately 21.4 million shares of its non-voting common stock to BCE in exchange for approximately 7.6 million limited partnership interests in MSV and the corresponding shares in the corporate general partner, reflecting the same exchange ratio used in recent transactions with MSV’s other partners.

Jeffrey A. Leddy, CEO and president of Skyterra, said “[with] this transaction, we will have completed the simplification of the ownership and control structure of MSV, and we believe, further enhanced MSV’s ability to pursue strategic opportunities and relationships.” The closing of the transaction is expected no later than January 5, 2007.