Satmex retains Morgan Stanley to explore strategic alternatives

By Caroline Salls

Pittsburgh, Dec. 5 - Satelites Mexicanos, SA de CV (Satmex) has retained Morgan Stanley as its exclusive financial adviser to assist in exploring strategic alternatives for the company, according to a company news release.

"We believe that working with an investment bank such as Morgan Stanley, with its premier satellite banking team, to help the company's management and board of directors explore various alternatives is in the best interest of our stakeholders and will help us maximize value," newly appointed Satmex chairman Luis Rebollar Corona said in the release.

The company said it expects to complete its review of alternatives and take any actions arising from the review during the next several months.

Satmex, a Mexico-based satellite operator, filed for bankruptcy on Aug. 11 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 06-11868.

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