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What: Shares of Loral Space & Communications
So what: The jump is related to the possible sale of Canadian satellite firm Telesat Holdings, which is 64% owned by Loral. Bloomberg is reporting that "three people with knowledge of the matter" say Telesat has brought on JPMorgan Chase
Now what: The sale price would be quite a jump from the C$3.25 billion that Loral and Canada's Public Sector Pension Investment Board, which owns the other 36%, paid for Telesat in 2006. But according to Bloomberg, the deal could be held up by the Canadian government since many prospective buyers are located out of the country. Shareholders should keep in mind that such an action could adversely affect Loral's share price.
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Fool analyst Rex Moore owns no companies mentioned here. The Fool owns shares of JPMorgan Chase &. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.