The FCC approved Intelsat’s acquisition of certain Loral assets i...
The FCC approved Intelsat’s acquisition of certain Loral assets in a decision announced Wed. Intelsat said in July it would pay $1.1 billion for Telstar satellites 4-8 and 13. The Commission said the transaction didn’t raise significant anticompetitive issues…
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and was in the public interest. It did adopt conditions on foreign ownership and the ORBIT Act: (1) No single foreign individual or entity could acquire more than 25% direct equity or voting interest in Intelsat without prior approval. (2) Approval would be needed before the company accepted indirect equity or voting interests from any investors in non-WTO countries. (3) Intelsat could provide bare capacity to companies providing direct-to-home, DBS, Ka- band or V-band services only after it completed its IPO. The Commission rejected conditions proposed by Starband.