Telesat sells bird to APT for $69M

OTTAWA and HONG KONG - Telesat Canada is transferring its leasehold interests in satellite Telstar 10 to APT Satellite Company in a deal worth approximately US$69 million. The agreement also includes some customer contracts related to the satellite, which is also known as Apstar 2R. "The transfer of our interests in Telstar 10 to APT makes strong strategic sense for a number of reasons, including APT's long-standing responsibility for the satellite's operation, the complex regulatory environment associated with the satellite, and the upcoming requirement to replace Telstar 10," said Telesat president and CEO Dan Goldberg, in the announcement. www.telesat.com www.apstar.com