No coin nor oath required. For personal study only.
In recognition of the ever increasing competition from undersea fibre optic cables and other global and regional satellite systems, INTELSAT owners from all corners of the world --both large and small --supported privatization, expressing a desire to move rapidly toward a new structure. The MS urged INTELSAT Management and the Board of Governors to perform the necessary studies that will enable the Board of Governors in September 1999 to recommend a single restructuring option to the October 1999 Assembly of Parties. The October Assembly, to be held in Malaysia, is a meeting of all INTELSAT Member Governments.The Assembly is responsible for making policy decisions relating to the treaty-based Agreement which governs INTELSAT today.
Commenting on the positive outcome of the Meeting of Signatories, Conny Kullman, INTELSAT's Director General and Chief Executive Officer, said: "This decision reflects the overwhelming support that privatization has among INTELSAT's owners and underscores their recognition that we must privatize rapidly in order to remain competitive in the future."
In addition to conducting further analyses on the privatization models, the Meeting of Signatories urged INTELSAT Management to implement more flexible business practices to enable INTELSAT to remain competitive in the short term, pending the implementation of the new commercial structures.
INTELSAT owns and operates a global communications satellite system providing capacity for voice, video, corporate/private networks and Internet in more than 2000 countries and territories.
For more information, visit the INTELSAT Web site at: .
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