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

To: Marty Rubin who wrote (2333)	8/12/1999 12:57:00 PM
From: Marty Rubin	Respond to of 2693

(same as previous report (#reply-10922154) but CBSMarketWatch version) Struggling Iridium may get Japan financial aid Compiled by CBS MarketWatch TOKYO (CBS.MW) -- Nippon Iridium Corp. will grant any request for financial assistance to help with rehabilitation that may come from its financially troubled U.S. parent Iridium LLC, company sources said. See related story. After Motorola Inc., Nippon Iridium is the No. 2 shareholder in a company that's built a $5 billion global satellite communications system to allow transmission of mobile phone calls and paging worldwide. "The network has already been completed, and we only have to put up several billion yen in additional funds for the parent company," said an official of telecoms company DDI Corp., a shareholder of Nippon Iridium. While Iridium has been able to secure only 2,100 subscribers in Japan, about 15% of initial projections, the local company believes the service still has growth potential. Nihon Keizai Shimbun. © 1997-1999 MarketWatch.com, Inc. All rights reserved. (A thanks "planitdoit" of Yahoo! board: messages.yahoo.com