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Industry: Email Alert RSS FeedIntelsat board studies bids
Telecommunications Mergers & Acquisitions, August, 2004 by Anonymous
The auction of Intelsat was close to reaching a conclusion last night as the board of the Bermuda-based satellite operator met to consider competing proposals to buy the company for more than $4.5 billion.
A deal, which would mark a crucial step in the transformation of the global satellite industry, could be hammered out as early as this weekend, after Intelsat had selected a preferred bidder, said sources familiar with the matter. In the running to acquire Intelsat are a handful of private equity groups, which have been keen to snap up satellite assets because they generate a lot of cash.
The Intelsat board meeting came as the sale of rival PanAmSat to Kohlberg Kravis Roberts (KKR), Providence Equity Partners, and Carlyle was back on track after DirecTV, the satellite...
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