Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 67.82

-0.9%

Dec 8 3:59 PM EST

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To: Jeff Vayda who wrote (6438)	8/12/1999 10:13:00 AM
From: djane	of 29987

08/12 08:55 RESEARCH ALERT - Iridium <IRID.O> sell reiterated [Note: IRID down 1 7/16 at 4.5] NEW YORK, Aug 12 (Reuters) - C.E. Unterberg Towbin on Thursday reiterated a sell rating on Iridium World Communications Ltd. -- said news late Wednesday that Iridium was in default of credit facilities was a signal that the company's banks are "no longer willing to work ... with the company unless their credit position is enhanced." -- said bankruptcy for Iridium "may be awfully close" but held out that chance that banks may still give Iridium time to put forth a restructuring or prepackaged bankruptcy. -- Iridium shares closed on Wednesday at 5-15/16. ((--Wall Street desk, 212-859-1730)) COPYRIGHT ¸ 1999 REUTERS LIMITED. ALL RIGHTS RESERVED.

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