Intelsat Satellite Failure Could Threaten Sale
From Associated Press
The electrical failure of a communication satellite owned by Intelsat Ltd. could threaten a planned $3.1-billion sale of the pioneering satellite operator.
The Bermuda-based company said its Americas-7 satellite was lost after a sudden “electrical distribution anomaly” Sunday. The satellite provided service to North America, Alaska, Hawaii and parts of South America.
The loss of the satellite gives Zeus Holdings Ltd. the right to cancel its acquisition of Intelsat under an agreement announced in August. Zeus, an investment consortium, is evaluating the effect of the loss, Intelsat said.
Intelsat said it was making other satellites available to most of its customers.
