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Loral receives FCC approval for Telesat acquisition

Telecomworldwire, Oct 8, 2007

TELECOMWORLDWIRE-8 October 2007-Loral receives FCC approval for Telesat acquisition(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Loral Space & Communications Inc (Nasdaq: LORL), a satellite communications company, announced on Friday (5 October) that the Federal Communications Commission (FCC) has granted Loral and the Public Sector Pension Investment Board (PSP Investments), the company's Canadian partner, the final required regulatory approval necessary for the closing of the acquisition of Telesat.

With this FCC approval, Loral reportedly remains on schedule to close the Telesat transaction later this month.

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Loral and PSP Investments had entered into a definitive agreement with BCE Inc (TSX:BCE; NYSE:BCE) to acquire 100% of the stock of Telesat Canada from BCE for CAD3.25bn.

((Comments on this story may be sent to tww.feedback@m2.com))

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