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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Ibexx who wrote (101137)	7/3/2001 12:42:27 PM
From: JGoren	Read Replies (1) \| Respond to of 152472

Qualcomm ends offer to lead Globalstar revival CHICAGO, July 3 (Reuters) - Wireless technology company Qualcomm Inc. <QCOM.O> withdrew its offer to become a lead investor in a restructuring plan to save troubled satellite telephone company Globalstar L.P., industry sources told Reuters on Tuesday. Qualcomm, one of Globalstar's founders, had been considering the purchase of the satellite company's assets as part of a restructuring plan discussed by Blackstone Group, Globalstar's strategic advisor. However, sources said Qualcomm's due diligence team determined after about five weeks of investigation that the potential costs were too high. 12:28 07-03-01