Connections +
News

BCE announces sale of Telesat for $3.42 billion

BCE Inc. today announced the sale of its satellite services subsidiary Telesat Canada for$3.42 billion to a new a...


December 18, 2006  


Print this page

BCE Inc. today announced the sale of its satellite services subsidiary Telesat Canada for$3.42 billion to a new acquisition company formed by Canada’s Public Sector Pension Investment Board (PSP Investments) and Loral Space & Communications Inc.

The sale, subject to regulatory approval both in Canada and the U.S., is expected to close in mid-2007. Other customary conditions must also be satisfied.

PSP Investments, the pension fund manager for Canada’s federal public service, the Canadian Forces, the Royal Canadian Mounted Police and other Canadian investors, will hold majority voting control in the new company.