Israel’s Spacecom Bought By Chinese Co. For $285M

July 10, 2016 | Israel’s Spacecom Satellite Communications Ltd., a global fixed satellites operator of the advanced AMOS satellite fleet, is to be fully acquired by Luxembourg Space Telecommunications, which is owned by Chinese communications company Beijing Xinwei Technology, for $285 million. Spacecom, which was founded in 1995 and is based in Ramat Gan, is owned by Eurocom Group, which is controlled by Bezeq Israeli Telecommunication Co. Ltd. controlling shareholder Shaul Elovitch.