updated 05:40 am EST, Fri January 21, 2011
Shares surge 30 percent on the news
Satellite Internet provider Hughes is said to be up for sale, according to a report. The company, which is majority owned by private equity Apollo is said to have hired Barclays Capital to provide advice on a potential sale. Early bids have emerged from other interest private equity firms and competing satellite ISPs.
One of the largest satellite broadband providers in the world, the Maryland-based company has seen its shares surge up to 30 percent on the news. Among its managed network clients are a number of big corporate players including Wal-Mart, General Motors, and Best Buy.