When Satmex emerged from bankruptcy six months ago, expectations ran high among creditors that the satellite company would ride a wave of sector consolidation to a record price tag. But with some of the bulge-bracket operators in the industry now in play themselves, pricing for the relatively small Mexican business might come under pressure, sector sources said.
“I am sure the right answer to that question is ‘no’,” said a Satmex bondholder when asked if a near-term sale of Intelsat was good news for the Satmex sale process. Reports emerged last month that Intelsat’s financial sponsor Apollo Management has put the company up for sale.
Intelsat had been leading the list of potential bidders for Satmex that includes Luxembourg’s SES Global, French-Spanish firms Eutelsat/Hispasat, the Canadian and US team of Telesat/Loral and the Brazilian firm Star One, owned by Mexican billionaire Carlos Slim and US conglomerate GE.
The Rest@ Financial Times
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment