Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 54.84

-3.2%

10:30 AM EST

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To: ccryder who wrote (8305)	11/12/1999 10:00:00 AM
From: Jeff Vayda	Read Replies (1) of 29987

OT: Two white knights for ICO, more confirmation of the market. The street is starting to listen again. also Latest Satellite Book out :http://www.unterberg.com/research/index.htm (Thanks Phillips Telecon) Jeff Vayda DUELING SAVIORS: A communications bigwig is offering to match Craig McCaw's plan to invest $1.2 billion in troubled ICO Global Communications [ICOFQ]. The existence of another bailout offer surfaced this week after satellite-telephone company ICO won approval from bankruptcy courts in Delaware, the Cayman Islands and Bermuda to obtain short-term financing of $150 million from investors led by telecommunications pioneer McCaw. The new long-term bailout offer was received from Subhash Chandra, the owner of Zee Telefilms, India's largest TV network. He offered to match the $1.2 billion bailout package that McCaw agreed to provide ICO last month. Although Chandra's offer is still alive, the courts opted to approve the partial financing from McCaw's group to help ICO pay its short-term obligations.

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