Hedge fund shareholder to Intelsat board: Get a new FCC deal or declare bankruptcy for court battle

by Peter B. de Selding

PARIS — Hedge fund Appaloosa LP, which increased its stake in fleet operator Intelsat to 7.4% via two investment vehicles, asked Intelsat’s board to refuse to accept the U.S. Federal Communications Commission’s proposed order that would give Intelsat only “token compensation” for vacating C-band spectrum until the agency proposed a better deal.

If the FCC refuses to modify its proposal, then Intelsat “has no choice but to resort to bankruptcy and litigation in order to protect [its] valuable license rights from an illegal . . .

To view the entire article, become a subscriber!

You may also like

Free one week full access pass

Curious what being a member of SpaceIntelReport is like?  We have a free one week access pass, just for you.