Financial Services Industry
Industry: Email Alert RSS FeedIntelsat revives $500m IPO.
Financial News, February, 2004
Byline: Shanny Basar
Intelsat, the US satellite communications provider, has revived its $500m ([euro]398m) initial public offering (IPO) which it first mooted two years ago.Morgan Stanley and Merrill Lynch had the original IPO mandate and are understood to be leading the resurrected deal. The banks declined to comment.
Intelsat was previously an intergovernmental organisation but was privatised in July 2001 and its shareholders now include France Telecom, BT and Deutsche Telekom. The satellite company said current shareholders will be offered the opportunity to sell ordinary shares in the offering which is due to complete before June 30 2004.
The company needs to meet the June deadline to comply with the Open Market Reorganization for the...
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