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Article: EchoStar's Plan To Buy Hughes Electronics Gains Momentum, S.G. Cowen Analyst Says.(Company Business and Marketing)
- Article from:
- Satellite News
- Article date:
- June 11, 2001
CopyrightCOPYRIGHT 2001 Access Intelligence, LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The odds that EchoStar Communications Corp. [DISH] will outmaneuver Sky Global to buy Hughes Electronics Corp. [GMH] have risen to between 40 percent and 50 percent, said Rob Kaimowitz, a satellite analyst with New York-based investment firm S.G. Cowen Securities Corp.
EchoStar is looking for partners to launch a bid and is making "progress," Kaimowitz said. He held a conference call last week and told his clients that the "synergies" of a Hughes purchase by Sky Global Networks, Inc., and its News Corp. [NWS] parent would be limited, compared to what may be gained from an EchoStar-Hughes deal.
However, Sky Global is progressing in its negotiations ...