Recent SatelliteFinance Headlines

• Ireland gears up for free-to-air satellite service

  27 Jan 12

  Saorsat, an Irish free-to-air satellite service aimed at complementing Saorview’s DTT service, is expected to become available in February or March this year, according to RTE Transmission Network, a unit of the country’s public broadcaster RTE.

  RTENL explained that it is “currently in the process of testing a new free-to-air satellite solution, which would make it possible for Irish broadcasters (television and radio) to reach every home in Ireland via free-to-air satellite.
• Mitec’s merger with Optiway enables MBO of VSAT division

  25 Jan 12

  The management buy-out of the VSAT division of satellite and telecommunications radio frequency products developer Mitec Telecom is finally set to take place after the parent company announced that its is to merge with Israeli fibre optics specialist Optiway.

  In what is essentially a reverse takeover, Mitec will pay Optiway between C$3.5m to C$5m in cash with the Canadian company’s shareholders subsequently owning 30% to 40% of the combined company depending on the final cash consideration. As part of the deal, privately-held Optiway will then take Mitec’s listing on the Toronto Stock Exchange.
• Spacecom eyes Q2 financing for Amos-6

  25 Jan 12

  Israeli satellite operator Spacecom anticipates securing financing for its upcoming Amos-6 bird in Q2, after selecting a manufacturer by the end of Q1, SatelliteFinance has learnt. “In a few weeks the manufacturer will be selected,” Gil Ilany,...
• OTE may sell satellite to refinance debt

  24 Jan 12

  Greek telecom incumbent OTE may consider selling its satellite unit Hellas Sat in order to refinance its debt, the company said during a media lunch.

  The company, which is majority-owned by Deutsche Telekom, currently has about €5bn in debt, of which €3.4bn is expected to mature in 2014.
• VNPT urged to prioritise Vinasat-2

  24 Jan 12

  Vietnam’s Minister of Information and Communications Nguyen Bac Son has reportedly asked state-owned Vietnam Posts and Telecommunications Group (VNPT) to step up efforts for Vinasat-2, the country’s second satellite expected to be launched in Q2 2012.

  He also asked VNPT to submit its final restructuring plan – which includes developing the company’s core businesses, speeding up the privatisation of some of its affiliates, and divesting non-core assets – by the end of March at the latest, according to Viet Nam News.

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