Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 60.85

-9.6%

Jan 7 3:59 PM EST

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To: Maurice Winn who started this subject	4/5/2001 10:10:21 AM
From: Geoff Goodfellow	Read Replies (1) of 29987

Reuters: Brazilian,Australian,Saudi investors own bulk of Iridium By Jim Wolf WASHINGTON, April 4 (Reuters) - Investors from Brazil, Australia and Saudi Arabia own the bulk of the holding company that owns born-again Iridium, supplier of secure satellite telephone links to the U.S. military, a regulatory filing obtained on Wednesday showed. The filing seeks the transfer of mobile-phone handset and other U.S. licenses used by a bankrupt predecessor company to the fleet's new owners, Iridium Satellite LLC. At issue is the waiver of a cap on indirect foreign ownership topping 25 percent, a benchmark for Federal Communications Commission (FCC) discretion in licensing companies selling such telecommunications services in the United States. The foreign investors own a combined total of 61 percent of Iridium Holdings LLC, the parent of the new Iridium Satellite. They own a similar percentage of an affiliated company which is seeking the handset license transfer. --SNIP-- biz.yahoo.com

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