Loral Skynet and Telesat will combine to create premier global FSS provider.(MERGERS AND ACQUISITIONS)(BCE Inc.)(Loral Space and Communications Ltd.)(Telesat Canada)

Wireless Satellite and Broadcasting Newsletter, December, 2006

Loral Space & Communications Inc. announced that it and its Canadian partner, the Public Sector Pension Investment Board (PSP Investments), have entered into a definitive agreement with BCE Inc. pursuant to which a joint venture company formed by PSP Investments and Loral will acquire 100 percent of the stock of Telesat Canada from BCE for approximately US$2.8 billion (CAD 3.25 billion), plus the assumption of US$148 million (CAD 172 million) of debt.

In connection with this transaction, Loral will transfer the fixed satellite services and network services assets of Loral Skynet to a new Canadian company, to be known as Telesat, based in Ottawa, formed by Loral and PSP Investments. This new company will be one of the world's largest operators of...

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