Reuters: Loral hires bank to advise on sale

|About: Loral Space and Communicati... (LORL)|By:, SA News Editor

Reuters reports Loral (LORL +0.7%) has hired i-bank Perella Weinberg to advise its board on a potential sale.

The news service reported in January Loral, which owns a majority stake in Canadian satellite network owner Telesat (but a minority voting stake), was working with Credit Suisse regarding a sale, and that it was talking with Canada's public sector pension investment board (another Telesat shareholder) about a joint Telesat sale.

Any bid for Loral would depend on the support of 38% shareholder MHR Fund Management.