Intelsat gets FCC approval for Zeus transaction

MUMBAI: Satellite operator giant Intelsat today announced that it has received the necessary regulatory approval from the U.S. Federal Communications Commission to proceed with the proposed purchase of Intelsat, Ltd. by Zeus Holdings Ltd.

Shareholder approval of the proposed acquisition was received earlier this year, informs an official release.

The release says it constitutes "forward-looking statements" that do not directly or exclusively relate to historical facts. "The forward-looking statements made in this release reflect Intelsat's intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors, many of which are outside of Intelsat's control. Important factors that could cause actual results to differ materially from the expectations expressed or implied in the forward-looking statements include known and unknown risks," it says.

Refering to its IA-7 satellite anomaly took place in November, the release says, "Known factors include, but are not limited to, the continued investigation into the cause of the IA-7 satellite anomaly and the impact of the IA-7 satellite anomaly and the launch delay of the IA-8 satellite on the pending acquisition of Intelsat by Zeus Holdings Limited. Detailed information about some of the other known risks is included in Intelsat's annual report on Form 20-F for the year ended 31 December 2003 on file with the U.S. Securities and Exchange Commission. Because actual results could differ materially from Intelsat's intentions, plans, expectations, assumptions and beliefs about the future, you are urged to view all forward-looking statements contained in this news release with caution. Intelsat does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise."

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