Thuraya: We have never had discussions with putative Chinese buyer
January 16, 2017
PARIS — Mobile satellite services provider Thuraya Telecommunications Co. on Jan. 14 dismissed a Chinese company’s announcement that it would raise $200 million to purchase Thuraya, saying no negotiations with the ostensible buyer have been held.
Dubai, United Arab Emirates-based Thuraya said China Trends Holdings Ltd., headquartered in the Cayman Islands and operating from Hong Kong, appeared to be one of several companies whose interest in Thuraya has been sparked by Thuraya’s next-generation system.
The details of that system have not been fully disclosed beyond the fact that Thuraya will remain focused on L-band as its primary service offering while leasing high-throughput Ka-band capacity from other satellite operators.
China Trends has told Hong Kong Stock Exchange authorities in recent weeks that it would seek to raise $200 million to purchase Thuraya and to develop the business in China.
In response to SpaceIntelReport inquiries, Thuraya released the following statement:
“Thuraya has never had any discussion of any kind with China Trends. There is considerable interest in Thuraya’s products and services from around the globe, and this was enhanced recently by September’s announcement that our next generation capability plans have been finalized.
"While we are certainly aware of the attention Thuraya has been gaining, as has been evident during our ongoing fundraising activities, it is worth stating that we do not have any exclusivity agreement in place with any company."
Peter B. de Selding