| According to Intelsat CEO Conny Kullman, "The
current mix of market and regulatory developments makes it clear that
withdrawal of the IPO is in the best interest of our company. In light
of the extension of the Orbit Act deadline, and the interest we received
regarding a possible investment in or acquisition of our company in
connection with our previous process, we now intend to resume the
exploration of this possibility. In the meantime, we will continue
to engage with the Federal Communications Commission with regard to
the regulatory treatment of certain direct-to-home services in North
America."
Intelsat has announced that it has engaged Morgan Stanley and Merrill
Lynch to explore the potential of another party’s investment in
or acquisition of the company, although there can be no assurance
that any transaction would be pursued or consummated, adds the release.
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