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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (6389)	8/8/1999 3:50:00 PM
From: Valueman	Read Replies (1) \| Respond to of 29987

Handset expectations now 75-100,000 by year end. Next conference call will be 75,000 or less I bet.

To: djane who wrote (6389)	8/8/1999 4:13:00 PM
From: djane	Respond to of 29987

Unicom Is Expected to Delay Two Listings Planned for Fall August 6, 1999 By JASON DEAN Dow Jones Newswires BEIJING -- Despite recent efforts to soothe its angry foreign partners, China United Telecommunications, or Unicom, will likely have to delay its planned overseas listings, said analysts and industry executives. Unicom has been planning the initial public offerings on stock exchanges in New York and Hong Kong for months. The listings are planned for October. China's No. 2 telecommunications company is hoping to raise as much as $1 billion from the sale of its stock. But the company has yet to sort out tangled relationships with foreign firms that invested more than $1.4 billion in Unicom through third-party joint ventures. China has since cracked down on such ventures, which are known as China-China-foreign investments. Analysts said sorting out these relationships is likely to delay Unicom's listing for months. "Unicom's IPO will more than likely be pushed back to the first quarter of next year," said Kristian Kender, media and technology analyst for Claydon Gescher Associates Ltd. in Beijing. Unicom, its financial adviser, China International Capital Corp., and the government all declined to comment on Unicom's IPO plans or its deals with foreign firms. Foreign companies have long known their investments with Unicom are in jeopardy. Last year, the Chinese government cracked down on the China-China-foreign investment plan the companies had used to invest with Unicom. Under the plan, foreign companies, including Sprint International, Deutsche Telekom AG, Bell Canada International Inc., and France Telecom SA, channeled their investments through third-party joint ventures because of government restrictions on direct foreign investment in China's telecommunications sector. But executives with Unicom's foreign partners said that since the ban was issued, they've been given little clear information on how their investments will be resolved. After delaying action on the issue for months, Unicom has begun formal efforts to sort out its foreign partnerships, said executives at some of the foreign companies involved. The executives said they received letters last week notifying them that Unicom must terminate its China-China-foreign partner ships and offering to negotiate on adequate compensation. But foreign executives said the letters fail to specify how investment ties will be severed. What's more, they said, the offer to talk formally comes too late for Unicom to make its listing as scheduled. According to Chinese state media reports, the China Securities Regulatory Commission has approved the IPO for October, which would require the company to appease its foreign investors sooner. "They want to sort this out by the end of the month. It's impossible," said an executive for a major European firm that has about $50 million in Unicom investments. Copyright ¸ 1999 Dow Jones & Company, Inc. All Rights Reserved.