<There's really no doubt that most, if not all, of the deployed Gateways belong to the SPs, not G*, and that the SPs (and in the US, Loral/Qualcomm) own the licenses. >
RS, we don't know what the gateway contracts are. Part of the exclusivity agreements is probably that annual targets must be met or certain consequences will result. I doubt if there were monthly targets. Perhaps a single failed year is not sufficient to trigger consequences. But when the exclusivity agreement is breached by the service provider, it makes sense to me that Globalstar LP would be entitled to take possession of the gateway at the original price.
The idea that the service providers run the gateways is a puzzle to me. Maybe they weed the garden and paint the hardware now and then. Maybe they change the gearbox and hydraulic oil and provide security. But the operation of a gateway is done by the Gateway Operating Control Centre [GOCC]in San Jose. The locals would have little to do. Taking over would be simple.
Also, QUALCOMM gave GlobalstarLP an exclusive licence to use the CDMA technology. In the event of a liquidation, I guess a licence wouldn't automatically be made available to a new constellation owner on the same or any terms.
The spectrum licences in individual countries are issued to the local company but while some of those countries won't allow any but their buddies to have a licence, many will allow others in, which was the original intent in the WARC allocations of spectrum, which was to be shared.
The best outcome is obviously a co-operative agreement. Pierre might grab the satellites, but what will you do with them Pierre if QUALCOMM doesn't like your terms and refuses a licence? Pierre, I am genuinely sorry that I am not paying you the money on time. I realize I'm protected by the limited liability of Globalstar Telecommunications Limited but it still feels tacky to be associated with default. Wouldn't you be happy with a whole lot of shares instead of debt, if the company was then debt free and Vodafone or Sprint or both or others had new service provider agreements?
Mqurice |
