Telenor finalises acquisition of COMSAT Mobile Communications

Nordic Business Report, Jan 14, 2002

NORDIC BUSINESS REPORT-14 January 2002-Telenor finalises acquisition of COMSAT Mobile Communications (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com

The Norwegian telecommunications group Telenor has completed its acquisition of the COMSAT Mobile Communications unit of the US aerospace company Lockheed Martin.

COMSAT Mobile, which has annual revenues in excess of USD100m, is a provider of mobile communications via satellite to the maritime, land mobile and aeronautical sectors. The financial terms of the agreement were not disclosed.

COMSAT's operations, including its employees and two earth station facilities in Connecticut and California in the US, will now be transferred to Telenor and the unit will become Telenor's US subsidiary under the name Telenor Satellite Services Inc.

Simultaneously with the transaction, Telenor has gathered all its mobile satellite activities under a new business area called Telenor Satellite Services.

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