Telenor will acquire Lockheed Martin’s Global Telecommunications ...
Telenor will acquire Lockheed Martin’s Global Telecommunications (LMGT) Comsat Mobile Communications unit for $116.5 million in cash, companies announced Tues., pending regulatory approvals. Comsat provides global mobile service through Inmarsat fleet to maritime, land mobile and aeronautic customers. Deal…
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includes Earth stations in Southbury, Conn., and Santa Paula, Cal., and moves Telenor into satellite communications business for first time, Norwegian company said. Telenor said current deal, along with purchase of LMGT’s Inmarsat shares, made it Inmarsat’s largest owner, with maximum allowed stake of 15%. LMGT spokesman said move didn’t take company out of satellite business, but “we're just selling this one piece of business. We're still in mobile communications satellites in other ventures.” MS