satellitefinance.com satellitefinance.com

Panasonic Avionics CEO and CFO leave under a cloud as US authorities begin bribery probe

Japanese electronics group Panasonic (TYO:6752) has promoted Hideo Nakano to CEO of Panasonic Avionics to guide the inflight connectivity provider through turbulent skies after disclosing it is being investigated by US authorities. Paul Margis and Paul Bottiaux have left their positions as Panasonic Avionics’ CEO and CFO respectively as the Department of Justice (DOJ) and Securities and Exchange Commission (SEC) probe the...

satellitefinance.com satellitefinance.com

Echostar transfers fibre backhaul and other assets to Dish Network to focus solely on satellite

US-based Echostar is transferring its fibre backhaul network, OTT development unit, and certain other assets to sister company Dish Network to become a pure-play satellite services business. In exchange the satellite operator, which is also is also transferring wireless spectrum licences covering four markets in the 28 GHz band, will get an 80% economic interest in Dish Network’s residential satellite broadband business Hughes...

satellitefinance.com satellitefinance.com

Special Report: Bird & Bird Regulatory Round-up

Joanne Wheeler and her colleagues at Bird & Bird highlight recent regulatory developments affecting the satellite industry and assess what they mean for the sector. First published in Issue 209 of SatelliteFinance, this round-up covers news from Luxembourg, Poland, the UK, China, and Australia.    LUXEMBOURG A draft law on the exploration and use of space resources presented by the Luxembourg government On 11 November 2016,...

satellitefinance.com satellitefinance.com

Proton-M still grounded after Roscosmos says wrong solder used in engines

Concerns over how much longer Russia’s Proton-M workhorse would be out of action mounted this week after the country’s space agency disclosed tests had found the incorrect type of solder had been used in the construction of some of its second stage engines. It represents a setback for EchoStar (NASDAQ:SATS) which has already seen ILS’s launch of EchoStar XXI postponed a number of times. Hispasat and AsiaSat (HKG:1135) will also...

satellitefinance.com satellitefinance.com

News briefs from Issue 209

A round-up of news briefs that featured in Issue 209 of SatelliteFinance.   SATELLITE OPERATORS Tokyo-based startup ALE has secured funding to develop its plans to operate a microsatellite that will produce artificial meteor showers on demand. Angel investors are injecting ¥700m (US$6m) into the project dubbed Sky Canvas. ALE’s satellite is set to launch in 2018. Once in orbit, the bird will release pellets on demand that will burn...

satellitefinance.com satellitefinance.com

Spacecom looks to other buyers after Xinwei talks break down

Protracted renegotiation talks between Spacecom (TASE:SCC) and its prospective buyer Beijing Xinwei Technology Group (SHH:600485) have broken down after more than four months. While talks have not been formally terminated, the Israeli FSS operator said no discussions had taken place for a while with the companies divided over several fundamental issues, despite them settling on a new price. The sale of Spacecom to Luxembourg Space...

satellitefinance.com satellitefinance.com

Thuraya in the dark as Chinese group plots US$200m offering to invest in the MSS operator

Hong Kong-listed China Trends (HKG: 8171) has prepared a convertible bond offering with a view to investing in Dubai-based Thuraya through recently acquired subsidiary Skynet Satellite Data, which has exclusive rights to sell the Thuraya Aero satellite data unit in China. China Trends is looking to raise HK$1.56bn (US$201m) to acquire equity in Thuraya, which itself is seeking US$1.1bn for its next generation constellation with...