TerreStar Europe Is Also Not Happy With EC’s MSS Decision

TerreStar Europe Limited, an indirect, majority-owned subsidiary of TerreStar Corporation (NASDAQ:TSTR), has issued the following statement with respect to the European Commission order regarding 2GHz MSS S-Band spectrum authorizations:

“We are extremely disappointed with the Commission’s order, as it appears not to have fully appreciated the significant advantages TerreStar Europe would have brought to the Commission’s Member States by leveraging the experience, S Band development work, and other assets of our parent TerreStar Corporation. The net result of the Commission’s decision will be to deny European consumers the benefits of our proposed system. TerreStar Europe will review the full decision when available and determine its appropriate next steps.”