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Loral Confirms Echostar Offer
New York - Aug 19, 2003 Loral Space & Communications has confirmed that, in addition to reaching agreement with Intelsat on July 15, 2003 for the sale of Loral's six North American satellites, Loral has received an informal offer for those assets from EchoStar Communications Corp., subject to due diligence. EchoStar also has indicated an interest in acquiring the balance of Loral's FSS fleet and its satellite manufacturing assets. Consistent with the bidding procedures approved by the Bankruptcy Court on August 18, 2003, Loral will evaluate any such bid it may receive from EchoStar in accordance with the bidding procedures. Bernard L. Schwartz said, "EchoStar's interest reconfirms the value of the assets assembled by Loral over the years. We will consider all bids received very carefully, noting that our current plan is to emerge from the bankruptcy process with a viable, ongoing satellite services and manufacturing business." Community Email This Article Comment On This Article Related Links Loral Space & Communications SpaceDaily Search SpaceDaily Subscribe To SpaceDaily Express The latest information about the Commercial Satellite Industry
Stratos Steps Closer To Xantic Acquisition
Bethesda MD (SPX) Jan 5, 2006Stratos Global recently announced it had taken a step closer toward the completion of the acquisition of Xantic, having received positive advice from the Works' Council in the Netherlands, and executed a definitive agreement to purchase Xantic from KPN and Telstra Corporation. |
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