10 May 11. Following the article published this morning in Les Echos newspaper, Thales (NYSE Euronext Paris: HO) confirms that discussions are currently being held with Safran. These discussions are following on previous exchanges between the two companies, which are aiming at seeking to optimise their respective business portfolios so as to strengthen their competitiveness, especially on international markets. Should a potential agreement be reached, it would be presented to the Board of Directors and employee representative’s bodies and appropriate information would be communicated.
10 May 11. Serco, the FTSE 100 services group, is in talks about buying a controlling stake in Intelenet Global Services, one of India’s biggest business process outsourcing companies, from Blackstone, the US private equity group. The discussions over the potential sale of Blackstone’s 66 per cent stake in Intelenet are the latest sign of consolidation in India’s outsourcing industry, as well as the international ambitions of Serco. (Source: FT.com)
10 May 11. Microsoft was in advanced discussions on Monday night about purchasing Skype, the internet telephone company, in what would be one of the US software company’s largest deals so far as it seeks to boost its online operations. A deal between the two companies could be announced as early as Tuesday, one person familiar with the matter said. The details were still being finalised on Monday night, which could yet derail an announcement, but a deal could value Skype at about $8.5bn, including debt, this person added. Another person familiar with the discussions said later that the terms of the takeover had been finalised. (Source: FT.com)
09 May 11. Loral Space & Communications Inc. (Nasdaq:LORL – News) today announced its financial results for the three months ended March 31, 2011. Revenues and Adjusted EBITDA1 at both Telesat and Space Systems/Loral (SS/L) showed continued improvement when compared to the first quarter of 2010.
Telesat and SS/L financial results continued to reflect strong operating performance.
SS/L reported first quarter revenue of $280.7m and Adjusted EBITDA of $40.5m.
Telesat reported first quarter revenue of $205.7m and Adjusted EBITDA of $158.9m.
Loral’s liquidity is strong, with quarter end cash of $106.5m, no debt and no borrowings under the $150m revolver at SS/L.
Telesat’s newest satellite, Telstar 14R/Estrela do Sul, built by SS/L, was delivered to launch base ahead of schedule for a late May launch.
Combined segment revenues and Adjusted EBITDA for the quarter were $486.4m and $194.6m, respectively, which compared to $422.3m and $151.6m, respectively, in the first quarter of 2010. All of Telesat’s revenue and Adjusted EBITDA are included in these segment results. Loral’s income statement, however, reflects its 64 percent economic interest in Telesat
only under the equity method of accounting. Loral’s revenues and Adjusted EBITDA for the quarter after eliminations were $279.9m and $35.4m, respectively, compared to $228.9m and $8.5m respectively, in the first quarter of 2010. The eliminations include all of Telesat’s results, as well as the impact of Loral’s portion of the ViaSat-1 construction contract on SS/L’s results. Loral reported income, before equity in net income of affiliates, of $21.6m in the current quarter compared to a loss, before equity in net income of affiliates, of $15.2m for the first quarter of 2010. Equity in net income of affiliates, comprised substantially of Loral’s share of Telesat’s net income and reflecting foreign exchange changes during the period, was $46.2m in the current quarter compared to $44.6m in the first quarter of 2010. As a result, Loral reported net income of $67.8m in the current quarter compared to net income of $29.4m for the first quarter of 2010. Diluted earnings per share for the first quarter of 2011 were $2.10 compared to diluted earnings per share of $0.97 in the first quarter