WASHINGTON (Reuters) ? Legislation giving Bermuda-registered satellite operator Intelsat Ltd. at least a year longer to make an initial public offering has been signed into law by President Bush, the White House said Tuesday.

The bill gives Intelsat, established in 1964 by a consortium of governments and privatised in 2001, until June 30, 2005, to meet a requirement that it broaden its shareholder base.

The deadline could be further extended to December 2005 by the Federal Communications Commission.

The U.S. Orbit Act originally required Intelsat to broaden its ownership by the end of 2003 but this was extended in December by the FCC until June 30 this year.

Analysts have speculated that the extension increases the likelihood that a private buyer will acquire Intelsat, although CEO Conny Kullman has said a buyout would required the FCC to reinterpret the requirements of the Orbit Act.

Intelsat, which competes with companies such as PanAmSat and SES, has suffered as telecommunications companies have taken their business to fibre lines.