EchoStar Acquires Stake In Satmex As Part Of A $374 Million Deal

Posted Feb 27, 2010

EchoStar Corporation (NASDAQ:SATS) has acquired stake in Mexican satellite company Satmex in a $374 million deal. EchoStar is doing this deal with their Mexican partner company MVS Comunicaciones. MVS Comunicaciones and EchoStar will acquire all of the outstanding stock in Satmex. Satmex started in the 1980’s as a government owned company. The company went private in 1995. This deal is taking place as part of a plan for EchoStar to expand their reach into South America. EchoStar used to own Dish Network, but spun them off into a separate company in December 2007. [paidContent]