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Measat Global Bhd., controlled by Malaysian billionaire T. Ananda Krishnan, has held talks with Eutelsat Communications (ETL) SA and Asia Satellite Telecommunications Ltd. on selling stakes in satellites, according to three people familiar with the discussions.
The negotiations may also lead to a partnership between Measat and one of the companies, two of the people said, declining to be identified because the discussions are private. An agreement would give them access to Measat’s four satellites and help share costs of future launches.
A sale would help Ananda Krishnan, Malaysia’s second- richest man, raise funds after buying out three companies last year for a total 7.9 billion ringgit ($2.6 billion). The billionaire, whose wealth was estimated to be $9.5 billion last year by Forbes magazine, also owns a majority stake in Malaysia’s largest mobile-phone company, Maxis Bhd. (MAXIS)
“It makes sense to have such alliances as it enables the parties involved to leverage on each other capacities as long as there is no overlap,” said Clare Chin, head of research at Kuala Lumpur-based CLSA Securities Malaysia Sdn. “It would also help them to save capital expenditure costs.”
Measat may be interested in sharing assets, splitting the costs of new launches, and exchanging satellite stakes, two of the people said. Chief Executive Officer Paul Brown-Kenyon wasn’t immediately available for comment when contacted by telephone and e-mail.
http://www.bloomberg.com/news/print/2011-07-14/malaysia-s-measat-said-to-hold-talks-on-selling-satellite-stakes.html
The negotiations may also lead to a partnership between Measat and one of the companies, two of the people said, declining to be identified because the discussions are private. An agreement would give them access to Measat’s four satellites and help share costs of future launches.
A sale would help Ananda Krishnan, Malaysia’s second- richest man, raise funds after buying out three companies last year for a total 7.9 billion ringgit ($2.6 billion). The billionaire, whose wealth was estimated to be $9.5 billion last year by Forbes magazine, also owns a majority stake in Malaysia’s largest mobile-phone company, Maxis Bhd. (MAXIS)
“It makes sense to have such alliances as it enables the parties involved to leverage on each other capacities as long as there is no overlap,” said Clare Chin, head of research at Kuala Lumpur-based CLSA Securities Malaysia Sdn. “It would also help them to save capital expenditure costs.”
Measat may be interested in sharing assets, splitting the costs of new launches, and exchanging satellite stakes, two of the people said. Chief Executive Officer Paul Brown-Kenyon wasn’t immediately available for comment when contacted by telephone and e-mail.
http://www.bloomberg.com/news/print/2011-07-14/malaysia-s-measat-said-to-hold-talks-on-selling-satellite-stakes.html