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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (1939)	6/15/1999 3:13:00 PM
From: dumbmoney	Read Replies (1) \| Respond to of 2693

Dow Jones Newswires -- June 15, 1999 DJ Motorola VP: 'Significant' Iridium Developments By July By Scott Scholten MINNEAPOLIS (Dow Jones)--Creditors of Iridium World Communications Ltd. (IRID) will decide on the company's debt restructuring by the end of June, according to Motorola Inc. (MOT) Vice President Fred Tucker. Tucker, who made his comments Tuesday in response to a question following a presentation at the U.S. Bancorp Piper Jaffray conference here, said Iridium will see "significant" developments by July. He declined to be more specific. Motorola has an 18% stake in Iridium, which is in talks with lenders over an $800 million credit facility and faces a June 30 deadline to restructure its debt.