IRID - Iridium World Communications IPO Announced! Message Board

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Technology Stocks : IRID - Iridium World Communications IPO Announced!

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To: Olsinvest who wrote (2332)	8/12/1999 11:52:00 AM
From: Marty Rubin	Read Replies (1) of 2693

Reported before open (1:55 AM): "Nippon Iridium Prepared to Support U.S. Parent" ------------ Nippon Iridium Prepared to Support U.S. Parent, Nikkei Says Tokyo, Aug. 12 (Bloomberg) -- Nippon Iridium Corp. will grant any request for assistance from Iridium LLC of the U.S. to help with its restructuring, Nikkei English News said, citing unidentified company sources. Nippon Iridium, the Japanese arm of the global satellite mobile phone service, is 58.7 percent owned by Japanese telecommunications company DDI Corp., an affiliate of Kyocera Corp., and DDI Corp. affiliates. DDI is prepared to put up ''several billion yen'' in additional funds, a DDI official said, according to the report. Iridium LLC, the cash-strapped satellite-telephone company, yesterday defaulted on bank loans totaling more than $1.5 billion after its lenders failed to extend a deadline for the company to meet conditions. (NEN, 8/12, www.nikkei.co.jp) ©1999 Bloomberg L.P. All rights reserved. -------- (Please Note: Dollar was 115.37 yen ao 08.11.1999. Source: WSJ A1)

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