Wheels within wheels: A Chinese company, managed by a Luxembourg company that in turn delegates management of its satellites to an Israeli-based company, has made a deal to purchase Spacecom, a different Israeli company that operates and owns the Amos fleet of communications satellites.
Observers said the deal could meet up with opposition from regulators, including the Communications Ministry. But Pollack said the transaction would be done in accordance with Spacecom’s license terms, which require the satellites be operated from Israel and that the company remain Israeli. The sale would put Spacecom under the direct control of an Israeli-domiciled company called Big Bird, which is managed by Major General (Res.) Ami Shafran, a former head of the Israel Defense Forces communications branch. Big Bird is 100%-owned by a Luxembourg company, which in turn is owned by Beijing Xinwei.
To say this financial deal is complicated is to understate the situation. Though it appears most everyone here is probably focused on making money, if I was Israeli I would be somewhat concerned that ownership of these crucial communications satellites is now going to be outside the country.
I also note the presence of Luxembourg in this space deal, illustrating again that this small European country is very much a big player in the commercial space industry.