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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 176.18

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10:15 AM EST

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To: Ramsey Su who started this subject	4/4/2003 3:15:08 PM
From: Cooters	Read Replies (1) of 196450

Globalstar selects Thermo Capital as equity investor SAN FRANCISCO, April 4 (Reuters) - Satellite phone service Globalstar on Friday said that Thermo Capital Partners has won the auction to be the equity investor who will fund it toward the completion of its Chapter 11 bankruptcy process. The plan, subject to bankruptcy court approval, calls for Thermo to invest up to $55 million in Globalstar, in exchange for a 67 percent stake in the company. The remainder of the equity in the San Jose, California, firm would be held by the company's creditors, including Loral Space & Communications Ltd., Qualcomm Inc and Globalstar LP bondholders. Thermal Capital Partners is a unit of Thermo Cos., a privately held group of companies in the telecommunications, power generation, natural resources and real estate industries. 04/04/03 15:06 ET

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