Telesat to wrap Loral merger on Nov 19
November 16, 2021
By Chris Forrester
Canadian satellite operator Telesat says it will complete its merger with Loral Space & Communications on November 19th and expects its shares to start trading publicly on the Toronto stock market next week.
At the same time its shares will be open to trade on the Nasdaq exchange in New York and replace the Loral listing.
Telesat has also updated on the delays occurring at Thales Alenia Space regarding the building of Telesat’s planned Lightspeed constellation of satellites. The delays are caused by a shortage of microprocessor chips and blamed on the global shortage of chipsets.
Telesat is obliged by FCC rules to launch 50 per cent of the Lightspeed fleet by November 3rd 2023. Telesat/Lightspeed now acknowledges that it will miss the date but is talking to the FCC about a waiver to the date.