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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: PaperChase who wrote (63124)6/24/1999 10:11:00 AM
From: FESHBACH_DISCIPLE  Respond to of 132070
 
80% of equity is held by licensees and without them they cannot operate the birds in the sky.France telecom,deutsce telecom and the like have given their approval for iridium to operate in their countries.

So come restructuring they just say you defaulted on debt,we are not going to renew your license.

They have to have incentive to go along with any reorg.

Thus the leverage over the bond holders.


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