Intelsat bags FCC approval for Loral transaction

MUMBAI: The US Federal Communications Commission has approved the transfer of Loral’s FCC licenses to Intelsat.

The global telephony, corporate network, video and Internet solutions provider, Intelsat received the FCC approval on 12 January 2004, says an official release.

FCC aproval came about in connection with its proposed purchase of the North American satellite assets of Loral space and communications corporation and its affiliates.

Says Intelsat CEO Conny Kullman, “This FCC approval is one of the significant conditions to the closing of the Loral transaction, and we are pleased that the regulatory process has been concluded. We are looking forward to completing the deal once all other conditions to closing have been met.”