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

To: djane who wrote (7704)	10/4/1999 9:08:00 AM
From: kitterykid	1 Recommendation Respond to of 29987

Hello, everyone. Been away for a while on a nice vacation holiday compliments of QCOM! Glad I missed the volatility last week in GSTRF. I noted in this week's Barron's that short interest in GSTRF rose to 13.8 million shares in September, up from 11.7 million shares in August. I guess a lot of people must think GSTRF is going the way of Iridium and ICO Global. Wouldn't it be uncomfortable for them if they were wrong!

To: djane who wrote (7704)	10/4/1999 11:36:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

China Tel says to buy three mobile phone networks Monday October 4, 9:08 am Eastern Time HONG KONG, Oct 4 (Reuters) - China Telecom (Hong Kong) Ltd said on Monday it planned to acquire three mobile telephone networks in three provinces in China for a total of HK$49.715 billion. The acquisition would be financed by the issue of new shares, debt, and cash, a company statement said. The mobile telephone networks were located in the provinces of Fujian, Henan and Hainan. China Telecom (Hong Kong) said it was acquiring the networks from its parent company. The total consideration paid to its parent company will be settled by HK$19.03 billion in cash and HK$30.68 billion in the form of new shares, the company said. China Telecom (Hong Kong) also said it intends to finance the cash portion by using proceeds from an additional equity offering which will raise about HK$12.82 billion and a debt offering to raise about HK$3.88 billion. The balance of the cash portion will be satisfied from internal resources and other forms of funding. The company, which was listed on the Hong Kong stock exchange in October 1997, is about 76 percent indirectly held by China's Ministry of Information Industry. The three mobile telephone companies are Fujian Mobile Communication Co Ltd, Henan Mobile Communication Co Ltd and Hainan Mobile Communication Co Ltd. The three companies carry net debt of about 2.22 billion yuan as at the end of June 1999. The three companies operate both GSM and TACS cellular networks in each province. As as June 30, 1999 the three companies had a total of 3.41 million subscribers. The combined average penetration rate of mobile telephones was 2.6 percent in the three provinces, indicating substantial growth potential, the company said. ``Three target provinces represent very attractive markets with robust economic development and relatively low cellular penetration rates,' Chairman Wang Xiao Chu told a news briefing. Based on earnings forecasts for the three companies, their combined 1999 earnings before interest, tax, depreciation and amortisation (EBITDA) were unlikely to be less than 5.34 billion yuan, Wang said. The combined 1999 net profit of the three companies was unlikely to be less than 2.48 billion yuan, according to Hong Kong accounting standards, he said. After the acquisition the total number of subscribers of China Telecom (Hong Kong) would amount to almost 12.23 million as of June 30, 1999, giving a 36.3 percent share of the m China Telecom (Hong Kong) would amount to almost 12.23 million as of June 30, 1999, giving a 36.3 percent share of the m obile telephone market in China, up from 26.2 percent prior to the acquisitions. The company said it signed a conditional acquisition agreement on Monday. Acquisition financing was expected to be arranged and completed by the end of October following the equity offering and a debt offering which would be launched in mid-October . Copyright 1994-1999 Yahoo! All Rights Reserved.