Telesat Said to Seek Buyers, Sale May Bring Up to $7 Billion

Canadian satellite firm Telesat Holdings Inc. hired three financial advisers to help sell the company for $6 billion to $7 billion, said three people with knowledge of the matter.

Closely held Telesat brought in JPMorgan Chase & Co., Morgan Stanley and Credit Suisse Group AG on Nov. 17 to start a formal sales process and offer so-called staple financing to interested buyers, said the people, who asked not to be identified because the talks are private.