Richard King
10-23-03, 04:36 PM
http://portfolios.abcnews.go.com/quotes?tid=&tab=news&headline=no&source=DowJones&when=20031023&ref=DJN1415.xml
Loral has rejected several formal and informal offers from EchoStar. The bankrupt satellite operator most recently turning down EchoStar's $1.03 billion bid for its North American satellite fleet. EchoStar had also previously offered $1.85 billion for all of Loral's assets. On Monday, satellite operator Intelsat Ltd. (ITST.YY) won an auction for the assets with a $1.2 billion bid.
Loral has rejected several formal and informal offers from EchoStar. The bankrupt satellite operator most recently turning down EchoStar's $1.03 billion bid for its North American satellite fleet. EchoStar had also previously offered $1.85 billion for all of Loral's assets. On Monday, satellite operator Intelsat Ltd. (ITST.YY) won an auction for the assets with a $1.2 billion bid.