Hong Kong-based APT Satellite’s new agreement with China Satcom set for Dec. 14 shareholder approval

by Peter B. de Selding

PARIS — Satellite fleet operator APT Satellite Holdings Ltd.’s independent financial advisor has approved a proposed renewal of APT’s three-year satellite capacity sales agreement with China Satellite Communications Co. Ltd. (CSCC), which will likely be approved by an APT shareholder metering on Dec. 14.

CSCC is 86% owned by the China Aerospace Science and Technology Corp. (CASC).

The renewal was subject to a detailed review, made necessary by regulations of the Hong Kong Stock Exchange, where APT is traded, relating to transactions with companies that are shareholders and customers . . .

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