Belgacom sells satellite operations to India's ORG Informatics UPDATE |
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Published
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Wed, 22 Aug 2007 09:02
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(Updates with transaction price, asset details)BRUSSELS/MUMBAI (Thomson Financial) - Belgacom SA said it has sold its satellite operations to India's ORG Informatics Ltd, with company sources at ORG telling Thomson Financial News the deal is worth about 700 mln rupees.Belgacom said the operations will be transferred to ORG by this autumn and that it plans to offer the 34 workers employed in the activities new jobs within the group.The group said indirect satellite activities such as Belgacom TV and the Lessive conference centre are not part of the deal.ORG said the acquisition will involve customer contacts and assets, including the fixed assets of Belgacom's satellite-based business.It added that post acquisition it will be able to provide various satellite-based services including broadcasting across Europe, the Middle East and Africa.tfn.newsdesk@thomson.comnc/lam/ndi/jro/jrCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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Belgacom sells satellite operations to India's ORG Informatics 