After power assets, Ananda Krishnan in talks to divest satellite unit Measat Global
01 Mar 2012
After putting his entire power assets on the block, Malaysia's second-richest man T Ananda Krishnan is now in talks to sell his satellite unit Measat Global Bhd, Bloomberg yesterday reported, citing three people familiar with the development.
Measat Global, a subsidiary of Measat Global Network Systems Sdn Bhd, has held talks with Paris-based Eutelsat Communications SA and Hong Kong-based Asia Satellite Telecommunications Ltd for selling stakes in four satellites.
The talks may also lead to a partnership between Kuala Lumpur-based Measat Global and one of the companies, the report said.
According to Bloomberg's sources, Measat Global may also be interested in sharing assets, splitting the costs of new launches, and exchanging satellite stakes.
The Measat Global fleet of communication satellites comprise Measat-2, Measat-3, Measat-3a, and Africasat-1 beam signals to over 145 countries representing 80 per cent of the world's population across Asia, Africa, Europe and Australia.
Ananda Krishnan is credited with launching Malaysia's first communications satellites, the Measat-1 and Measat-2, in 1992. The satellites rapidly increased the country's telecommunication and broadcasting industries, including the launch of the first world's digital Direct-To-Home Multi-Channel TV Service, Astro.
