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home / news releases / I - Intelsat Goes Bankrupt


I - Intelsat Goes Bankrupt

Intelsat (NYSE: I) warned Congress it might go bankrupt, and now it has.

Satellite communications company Intelsat, the stock of which rocketed to nearly $35 a share on hopes it would reap tens of billions of dollars in "spectrum" cash in late 2018, currently trades for less than $0.50 a share after the company announced Wednesday evening that it has filed a Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the Eastern District of Virginia.  

Image source: Getty Images.

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Stock Information

Company Name: Intelsat S.A.
Stock Symbol: I
Market: NYSE

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