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Old 01-24-2011, 10:58 PM
xplornetsuck xplornetsuck is offline
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Default Hughsnet and Telesat for sale

Nice to see the damn "Canadian Citizen ownership" rules relaxed. Or maybe foreign buyers just have to give a "donation" to make sure the deal goes through. We just need rules that make sure that the foreign owners can't just shut things down without justification.

Meanwhile Bell and Rogers and Shaw are buying up all the Canadian media outlets.

http://news.businessweek.com/article...4255DMG3IBB59I
Quote:
Nov. 20 (Bloomberg) -- Canadian satellite firm Telesat Holdings Inc. hired three financial advisers to help sell the company for $6 billion to $7 billion......


..............Canada lifted restrictions on foreign ownership of domestic satellite companies in July, implementing a measure included in Finance Minister Jim Flaherty's March budget.

Under the Investment Canada Act, the government can block any transaction valued at C$299 million or more if it finds the deal doesn't provide a “net benefit” to the country............................

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There was something a while back about Hughesnet maybe being allowed to be a Canadian based reseller(no Xplornet involvement), but heck knows what happened on that.

http://www.reuters.com/article/idUSTRE70J6OX20110121
Quote:
Thu Jan 20, 2011 ................The sale of Hughes would allow Apollo, which has been a major shareholder in the company since late 2004, to exit its investment. Barclays has offered staple financing -- so called because details of the financing are stapled to the back of a deal sheet -- to potential buyers, one of the sources said.....................
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Old 02-14-2011, 01:47 PM
xplornetsuck xplornetsuck is offline
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Hughesnet to be purchased by EchoStar.
http://finance.yahoo.com/news/EchoSt...80937.html?x=0

Quote:
.......announced today an agreement pursuant to which EchoStar will acquire all of the outstanding equity of Hughes and its subsidiaries including its main operating subsidiary, Hughes Network Systems, LLC in a transaction valued at approximately $2 billion, including Hughes debt expected to be refinanced in connection with the transaction. EchoStar Corporation is recognized as a leader in the telecommunications industry for its innovation in satellite solutions and technology, and its broadcasting expertise. Hughes is the global leader in broadband satellite technologies and services, and a leading provider of managed network services. The transaction will greatly enhance EchoStar's capabilities for broadband transport of video and data.......
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