Galaxy Satellite expecting 100 mln usd investment from strategic investors

Television Broadcasts Ltd unit Galaxy Satellite Broadcasting (0511) general manager S.T. Tang said strategic investors are expected to inject 100 mln usd in capital into the company. Cited by the Hong Kong Economic Times, Tang said while Galaxy has not yet signed a formal agreement with investors for the 100 mln usd capital injection, it has obtained a guarantee of the injection of part of the amount from the potential investors. Tang said parent TVB will also inject its satellite TV business in the US, Europe and Australia into Galaxy.

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