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Intelsat considers buying New Skies
Posted: Sat, Aug 20, 2005, 10:28 AM ET (1428 GMT)
Satellite operator Intelsat is considering acquiring smaller rival New Skies, the Wall Street Journal reported Friday. The Journal, citing industry sources, said Intelsat was considering spending up to $1.3 billion to acquire Netherlands-based New Skies, which operates five communications satellites. New Skies was spun off from Intelsat in 1998 as part of Intelsat's privatization effort; US law prevented the two from merging until this year. Such a deal, industry sources speculate, could trigger a new round of consolidation in the communications satellite industry, which is suffering from considerable on-orbit overcapacity in some markets.
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