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

To: djane who wrote (6440)	8/12/1999 10:36:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

Nippon Iridium Prepared to Support U.S. Parent, Nikkei Says Tokyo, Aug. 12 (Bloomberg) -- Nippon Iridium Corp. will grant any request for assistance from Iridium LLC of the U.S. to help with its restructuring, Nikkei English News said, citing unidentified company sources. Nippon Iridium, the Japanese arm of the global satellite mobile phone service, is 58.7 percent owned by Japanese telecommunications company DDI Corp., an affiliate of Kyocera Corp., and DDI Corp. affiliates. DDI is prepared to put up ``several billion yen' in additional funds, a DDI official said, according to the report. Iridium LLC, the cash-strapped satellite-telephone company, yesterday defaulted on bank loans totaling more than $1.5 billion after its lenders failed to extend a deadline for the company to meet conditions. (NEN, 8/12, www.nikkei.co.jp) NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min. Access More Information and Services Above ¸1999 Bloomberg L.P. All rights reserved. Terms of Service, Privacy Policy and Trademarks.