MEXICO CITY — Mexico will auction off a majority interest in most of its satellite operations by October, the government announced.
The Communications and Transport Secretariat (SCT) held a press conference Monday to unveil the details of the widely anticipated sale. The government will sell up to 75% of the shares in Satelites Mexicanos (Satmex), the recently created company which owns Mexico’s three satellites currently in operation.
Satmex’s holdings also include the concessions for positions on the satellites as well as the rights to operate a public telecommunications network. The system currently generates revenue of about $110 million.