BCE parts with Telesat Canada

19 Dec 2006

Canadian communications group BCE has sold its satellite services subsidiary Telesat Canada for CAD3.42 billion (USD2.96 billion) to a new company formed by Canada’s Public Sector Pension Investment Board (PSP Investments) and US-based Loral Space & Communications. The sale is expected to be completed in the second quarter of 2007 subject to regulatory approval in Canada and the US. Loral Space’s Loral Skynet business includes satellite assets in Europe, Asia, the Middle East and Latin America.

Canada, BCE (old), Telesat