The intergovernmental owners of satellite capacity provider Intersputnik are set to increase the company’s share capital as it looks to order its own telecoms satellite.
Intersputnik, which is based in Moscow and has 26 stakeholders including Russia,…
The intergovernmental owners of satellite capacity provider Intersputnik are set to increase the company’s share capital as it looks to order its own telecoms satellite.
Intersputnik, which is based in Moscow and has 26 stakeholders including Russia, India and Poland, was unable to disclose details about the agreement it secured on 24 April to increase its capital.
The proposal was agreed during a board meeting in Cracow, Poland, where the company revealed its 2011 revenue had exceeded expectations despite unfavourable economic conditions. Reports citing company figures show its revenue soared 13.7% on the year to US$81.4m, when it had only forecast a 10% rise.
As a result of its 2011 performance, Intersputnik has outlined initial plans to expand its telecommunications business, which currently sees it lease capacity from 15 satellites owned by operators such as the Russian Satellite Communications Company (RSCC), Asia Broadcast Satellite (ABS) and Eutelsat of France.
Intersputnik current leases capacity to telcos, broadcasters and other corporate customers, both on its own and in partnership with other satellite operators.
In a statement following the board meeting, the company said it had agreed to expand its telecoms system “using new satellites and Intersputnik’s own orbit and spectrum resource in cooperation with interested partners, specifically … projects in top-priority positions at 16W and 78E”.
The company was founded in 1971 with initially nine member states. During the board operational committee meeting earlier this week, it officially welcomed Somalia as its 26th member.
The next such meeting is scheduled for June 2013 in the Kyrgyz Republic.
