Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 67.32

+5.1%

3:59 PM EST

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To: Maurice Winn who started this subject	10/1/2002 6:24:23 AM
From: tb98	Read Replies (1) of 29987

Inmarsat in Talks on $1.6 Bln Private Sale LONDON (Reuters) - Global satellite communications group Inmarsat has told employees it is in talks to sell itself to a private equity investor, after abandoning flotation plans twice last year, the Business newspaper reported on Sunday. A spokesman in London was not available for comment on what would be a sale worth about one billion pounds ($1.56 billion). Inmarsat had said in June it was still ready to launch an initial public offering of its shares to investors in London, once the time was right. The company runs nine satellites and provides telephone, fax, intranet and Internet access to ship owners, broadcasters and airlines across the world. It had hoped a new generation of satellite broadband services scheduled for 2004 would whip up enthusiasm for its flotation. But investors remain wary following the collapse of peers such as Iridium and ICO, and the drop in valuations in the telecommunications sector amid a persistent industry downturn. Furthermore, Britain's IPO market is struggling to find its feet after almost two years on its back as equity valuations tumble in the global economic downturn. The Business did not name any potential buyers. Inmarsat's shareholders include Deutsche Telekom and France Telecom. The firm is advised by Morgan Stanley.

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