Kudelski fit again after EchoStar rumors
Kudelski, the Vaud-based TV encryption specialist, has rebounded after a brief dip in its stock price due to speculation surrounding its client EchoStar; the company's shares have risen.
The Vaud-based TV encryption specialist Kudelski has recovered after a brief stock market dip: shares rose by 5.7 percent to 27.70 francs on Wednesday, as Moneycab reports. On Tuesday, the shares fell by up to 10.6 percent. The reason was a report in the "Los Angeles Times" about a possible takeover of Kudelski customer EchoStar by the American satellite TV provider DirecTV. The latter is part of Rupert Murdoch's empire. According to the Tages-Anzeiger, analysts feared that Kudelski could lose EchoStar as a customer as a result of the takeover and thus also lose sales. The situation has now apparently eased and the rumor has not been substantiated. Kudelski CFO Mauro Saladini also calmed the dust by stating that Kudelski would still be profitable without EchoStar.
