Intelsat, Ltd today announced that the Federal Communications Commission had approved its request under the Open-market Reorganisation for the Betterment of International Telecommunications Act, or the ORBIT Act, to extend the date by which Intelsat is required to complete an initial public equity offering from 31 December 2003 to 30 June 2004.
"Intelsat respects its obligations under the ORBIT Act and we appreciate the responsiveness of the FCC in considering the many factors that led to our request," stated Intelsat Chief Executive Officer Conny Kullman.
"We are now focused on closing on and integrating the North American satellite assets we are purchasing from Loral and then intend to conduct our initial public offering in compliance with the ORBIT Act."
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Intelsat, Ltd offers telephony, corporate network, video and Internet solutions around the globe via capacity on 25 geosynchronous satellites in prime orbital locations. Customers in approximately 200 countries rely on Intelsat`s global satellite, teleport and fibre network for high-quality connections, global reach and reliability. For more information, visit www.intelsat.com.
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