Spacecom Satellite Communications Ltd. (TASE:SCC), controlled by Shaul Elovitch's Eurocom, notified the Tel Aviv Stock Exchange this morning that the deadline for the negotiations on the sale of Spacecom to Chinese company Beijing Xinwei Technology Group had been extended by from September 7 to November 15. The $285 million deal that Spacecom reported on August 24 this year took a severe blow when the company's Amos 6 satellite was destroyed on the launch pad. The deal was conditional on the satellite's success. Last year, Spacecom lost contact with the Amos 5 satellite, and so Amos 6 was critically important for it. RELATED ARTICLES Cautious optimism on Ofek 11 surveillance satellite Amos 6 blast creates opportunities for IAI - report Amos 6 satellite destroyed in SpaceX explosion Spacecom confirms: Amos 5 lost in space Spacecom's business is now based on three satellites, all of them produced by Israel Aerospace Industries: Amos 2, Amos 3, and Amos 4. Spacecom's CEO is David Pollack. Published by Globes [online], Israel business news - www.globes-online.com - on October 30, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
