Intelsat Obtains Extension to ORBIT Act Initial Public Offering Deadline

SPACEMART

flog it off

Hamilton - Dec 18, 2003
Intelsat, Ltd. Today announced that the Federal Communications Commission had approved its request under the Open-market Reorganization for the Betterment of International Telecommunications Act, or the ORBIT Act, to extend the date by which Intelsat is required to complete an initial public equity offering from December 31, 2003 to June 30, 2004.

"Intelsat respects its obligations under the ORBIT Act and we appreciate the responsiveness of the FCC in considering the many factors that led to our request," stated Intelsat Chief Executive Officer Conny Kullman.

"We are now focused on closing on and integrating the North American satellite assets we are purchasing from Loral and then intend to conduct our initial public offering in compliance with the ORBIT Act."

SPACEMART

Swedish Space Corporation To Retain 25% Stake In NSAB

Stockholm - Dec 17, 2003
SES Global S.A. and Swedish Space Corporation (SSC) have announced that they have entered into a definitive agreement whereby SES Global increased its existing interest in Sweden's Nordic Satellite AB (NSAB) from 50% to 75%, by acquiring an additional 25% stake from SSC. Financial terms of the transaction, which is expected to close on February 2nd, 2004, were not disclosed.