Sats calls for trading halt pending announcement

SATS on Wednesday (Sep 28) morning requested a trading halt, pending the release of an announcement.

Last week, the mainboard-listed inflight caterer and ground handler said it was in discussions to acquire air cargo handler Worldwide Flight Services, although no definitive terms or formal legal documentation had been agreed upon.

This was in response to a Sep 21 Bloomberg report citing sources which said the potential acquisition could be for as much as US$3 billion.

Sats ended Tuesday S$0.03 or 0.8 per cent lower at S$3.87.