Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
The US Department of Justice has given the OK to the proposed acquisition of PanAmSat by Intelsat, finding that it does not propose any threat to competition.
In a statement, Intelsat said the department was closing its antitrust investigation. "The Justice Department is not seeking any conditions on the proposed merger and is not otherwise commenting on it." However, the transaction remains under review by the FCC and is also subject to Intelsat gaining financing for the acquisition.
Intelsat CEO, David McGlade, said: "With the Justice Department's decision not to challenge our transaction, we are moving full speed ahead with our integration planning and preparations. We will be finalising our financing over the next few weeks, and should be in a position to close soon after receiving FCC approval."
Intelsat and PanAmSat announced their merger agreement on August 29, 2005. Under the agreement, Intelsat will acquire PanAmSat for $US25 per share in cash, $US3.2 billion in total. Approximately $3.2 billion in debt of PanAmSat and its subsidiaries will remain outstanding or be refinanced.
David Bass
| For the fourth year in a row, IDC has placed content security provider Websense (NASDAQ: WBSN) at the top of the IDC Worldwide Web Security 2011 –…
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