Chinese end talks of Spacecom purchase

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Talks between China’s Beijing Xinwei Technology Group and Spacecom of Israel have broken down. Some five months of dialogue, and not helped by the September 1st loss of the AMOS-6 satellite, have scuppered the prospects of a sale by Spacecom.

Spacecom, which operates the Amos fleet of satellites, simply says that the talks ended without a deal being agreed. Spacecom admitted that while they were never formally broken off, the two sides had not held discussions for some time.

Beijing Xinwei had previously agreed to pay $285 million (€268m) for Spacecom, and this sum was reduced to $190 million following the September 1st catastrophe.  Jointly-agreed deadlines for the purchase to close were missed.

The good news is that Spacecom now says that it is in talks with other candidates


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