Bezeq ‘selling satellite unit’ to Xinwei

By:
Alan Burkitt-Gray
Published on:

Israeli operator to reported to be close to a deal to sell Spacecom, its satellite company, to Beijing Xinwei Technology

Israeli operator Bezeq is poised to sell its wholesale satellite company Spacecom to a Chinese investor, according to space specialists.

The company has been on the market for at least three years, but the price is believed to have dropped after its latest satellite, Amos 6, was lost in a SpaceX launcher failure in September.

But reports in the past few days say Beijing Xinwei Technology is close to completing its purchase of the operation, through Xinwei’s subsidiary, Luxembourg Space Telecommunications, based in the European grand duchy.

The original price was believed to be $285 million, but reports say Xinwei has been able to knock a third off in order to complete the deal.

Spacecom’s satellites cover the Middle East, central and eastern Europe and parts of North America. Bezeq owns Spacecom through its subsidiary Eurocom.