Loral Is Expected to Miss Satmex Payment
From Bloomberg News
Loral Space & Communications Ltd., the third-largest U.S. satellite maker, and its Mexican partners probably will miss a $188-million payment to the Mexican government today on their purchase of 75% of Satelites Mexicanos, a communications ministry official said.
Failure to make the payment may trigger foreclosure unless Loral and its partners submit a debt restructuring plan in the “coming weeks,” said Rodolfo Salgado, who oversees state asset sales at the ministry.
A Loral spokesman declined to comment.
From Bloomberg News
* EchoStar Communications Corp. agreed to invest 7 million euros ($9.5 million) in France’s Archos, a move that might give it as much as 26% of the French company.
