TS News - Mexico Accepts Satellite Bids

• from: owner-ts-news@tele-satellite.com
• Date: Mon, 08 Sep 1997 09:45:37 +0900

<x-rich></x-rich><x-rich>TELE-satellit News, 8 September 1997


Mexico Accepts Satellite Bids

  MEXICO CITY, Mexico, 97/09/08 (Sat ND) -- Mexico has accepted the bids of
U.S satellite giants General Electric Co., Loral Corp. and Hughes
Electronics Corp. for Mexico's satellite system Satmex. 60 percent of the
government-owned Satelites Mexicanos SA system are to be auctioned, plus an
option for further 15 percent. Satmex owns two operating
<fontfamily><param>Times New Roman</param>centres and the right to launch
and operate a fourth satellite in addition to the existing Morelos 2 and
Solidaridad 1 and 2.


  The price for the 60-percent share was estimated at US$700 million to
US$1 billion. Satmex generates an annual revenue of about US$110 million.
GE, Loral and Hughes respectively had to co-operate with local companies
because the owner of the 60-percent share must be majority Mexican
capital.</fontfamily> <fontfamily><param>Times New Roman</param>Loral Space
& Communications teamed up with Mexico's Telefonica Autrey while PanamSat
partnered with Industrias Penoles. GE Americom has to name its Mexican
partner until the end of September. The winner of the auction will be
announced on November 7.

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