LevFinTMTPUBLISHED
Canada Backs Rival to Starlink Amid Debt Battle
Value
$2.0Bn
Acquirer
Telesat
Canada is backing a rival to Starlink, but a $2bn debt battle threatens its plans. Telesat hopes to challenge Elon Musk's satellite dominance but needs his rockets to get off the ground.
✦ Meridian Analysis
Canada is backing Telesat’s effort to build a satellite broadband network that would compete with SpaceX’s Starlink, but the plan is hampered by a $2 billion debt dispute. Telesat hopes to challenge Elon Musk’s satellite dominance but needs his rockets to get off the ground.
Neither the price of any equity stake nor the specific covenants of the proposed debt have been disclosed, nor have the regulatory approvals or contractual arrangements with launch providers been made public.
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