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SES To Invest $135 Million In Embratel Satellite For 20 Percent Stake
Societe Europeenne des Satellites (SES) has announced a further intercontinental expansion–the move into the Western Hemisphere that it long has planned. It is investing $135 million in Embratel’s satellite Ivision and is taking a 20 percent stake in the Brazilian domestic satellite carrier.
Together they plan to supply the Latin American business and direct-to-home markets–first in Brazil and later expanding to other countries–with access to the Internet through Embratel’s C-band satellites.
SES said it will have an option to expand its stake in the Embratel Satellite Division to 30 percent. The deal must be approved by the Brazilian telecom regulatory and competition authorities, the companies said, but assuming that they clear it, the companies expect to complete the deal this quarter.
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