Satmex exploring alternatives after stock purchase deal termination

By Caroline Salls

Pittsburgh, March 17 - Satélites Mexicanos, SA de CV said it is continuing to explore its strategic alternatives and restructuring options after the termination of a stock purchase agreement with EchoStar Satellite Acquisition LLC and a Mexican joint venture partner, according to a company news release.

As previously reported, EchoStar terminated the stock purchase agreement because Satmex did not obtain necessary consents and waivers from holders of its first-priority senior secured notes due 2011 and second-priority senior secured notes due 2013.

Satmex is a Juarez, Mexico-based satellite coverage provider.

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