Eutelsat planning to buy Satelites Mexicanos

French satellite operator Eutelsat Communications had made an offer with two Mexican partners to acquire Satelites Mexicanos, an Associated Press report said.

The Associated Press report said Eutelsat's partners in the venture were Groupe Miguel Aleman and Groupe Clemente Serna.

The French satellite operator declined to say how much of Satelites Mexicanos, or SatMex, it wants to hold or how much it is bidding for what would be its share, the report said.

 A Eutelsat spokesman also declined to say how much the bid for SatMex by all the partners totals.

The three parties are participating in a competitive bidding process initiated by SatMex shareholders and coordinated by Morgan Stanley, the report said.

SatMex CEO Raul Cisneros told Dow Jones Newswires in Mexico City that both foreign and Mexican investors had submitted bids for the company, the report said.

Though he declined to identify the bidders or the number of bids, he said foreign interest included satellite operators, the report said.

Morgan Stanley was hired in December to explore alternatives for SatMex following the company's completion of a debt restructuring and its emergence from Chapter 11 bankruptcy proceedings, it added.

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