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

To: RAW who wrote (401)	2/15/1998 6:01:00 PM
From: RAW	Read Replies (1) \| Respond to of 2693

Sunday February 15, 4:00 pm Eastern Time Iridium satellite launch delayed again WASHINGTON, Feb 15 (Reuters) - Iridium World Communications Ltd said Sunday it has postponed the launch of five telecommunications satellites to Monday, February 16, due to bad weather. Several launches of the Boeing Co (BA - news) Delta II rocket carrying the satellites have been called off in recent weeks due to weather problems at Vandenburg Air Force Base, Calif. Iridium is the public investment vehicle of Iridium LLC, a consortium of 20 investor organizations representing telecommunications and industrial companies. Motorola Inc (MOT - news) is the lead contractor for Iridium. The $5 billion venture currently has 48 orbiting satellites. Iridium plans to create a global wireless communications network with 66 low-earth-orbit satellites linked to land-based wireless systems. The system is geared to allow subscribers to communicate using hand-held telephones and pagers virtually anywhere in the world. Service introduction is planned for 1998. --------------------------------------------------------------------------------