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PanAmSat acquires Europe*Star
Posted: Wed, Jul 20, 2005, 2:07 PM ET (1807 GMT)
Commercial satellite operator PanAmSat announced Tuesday that it has acquired rival operator Europe*Star, giving the US-based company an increased presence in Europe and the Middle East. PanAmSat bought Europe*Star from its owner, Alcatel, for an undisclosed sum that outside analysts estimated to be around $65 million. The deal includes one satellite currently in orbit, Europe*Star 1 (now renamed PAS-12), as well as GEO orbital slots at 45 and 47.5 degrees east. PanAmSat made the deal because of their desire to increase their presence, already strong in the Americas, in Europe and the Middle East. Alcatel, meanwhile, had reportedly been looking to unload Europe*Star for as long as two years.
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