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

To: dumbmoney who wrote (2561)	2/11/2000 8:30:00 PM
From: Marty Rubin	Read Replies (1) \| Respond to of 2693

Iridium: McCaw to the Rescue Iridium (IRIDQ) has a savior at last. The ill-fated Washington (D.C.)-based satellite-phone company filed a plan in bankruptcy court on Feb. 9 that lays out a rescue led by wireless mogul Craig McCaw. McCaw and a group of investors, including Motorola (MOT), will inject $74.6 million of interim financing into the company. That's enough to keep Iridium afloat until midyear. By then, the company is expected to have a formal restructuring plan in place that will eventually take it out of bankruptcy. Copyright 2000 by The McGraw-Hill Companies, Inc. All rights reserved. ------ Source: FEBRUARY 21, 2000 ISSUE www.businessweek.com