Business Services Industry
Loral Space problems not a threat to Satmex.
Internet Securities, July, 2003
MEXICO CITY, Jul 17, 2003 (Cronica/Corporate Mexico by Internet Securities, Inc. via COMTEX) -- Satelites Mexicanos (Satmex) and telecommunications specialists say that the fact that Loral Space, which owns 49% of Satmex, has filed for Chapter 11 under the U.S. bankruptcy law is not a problem for the Mexican firm.Satmex considers that by filing for Chapter 11, Loral will find it easier to launch six more satellites for Intelsat for more than US$1 billion. As Loral Space is neither the majority shareholder no controller of Satmex, the latest developments "will not affect us in any way," as the Mexican company does not depend on Loral either economically or technologically.Javier Lozano, president of the Institute of Telecommunications Law, said that the situation of...
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