Bell Canada to Sell Satellite Division for $3.25 Billion

6:30 am on December 19, 2006 | Category: Business, Corporate, Wireless Technology

business/bell.jpg

Bell Canada Enterprises Inc. has reached a deal to sell off its satellite communication unit, Telesat Canada, at a price of C$3.25 billion (US$2.8 billion).

The division will be purchased by Loral Space and Communications Inc. and PSP Investments, a Canadian pension fund. Loral’s own satellite business, Loral Skynet, will be merged into Telesat after the purchase is complete, to create the fourth largest satellite operator in the world.

The combined entity will have a fleet of 11 satellites, with four more scheduled for launch over the next three years.

By selling Telesat and other divisions, BCE Inc. is attempting to carry out a greater restructuring and refocus efforts on its core telecommunications business.

Related Articles:

    None Found

    No Comments yet »

    RSS feed for comments on this post.

    Leave a comment

    XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>


    Published by TeleClick Enterprises
    Edited by Jeremy Maddock