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

To: Maurice Winn who wrote (2885)	2/9/1999 1:57:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

Bloomberg. Globalstar Says Four Satellites Launched on Soyuz Rocket (via GSTRF yahoo thread) Moscow, Feb. 9 (Bloomberg) -- Globalstar Telecommunications Ltd., which is starting a satellite-based telephone network, successfully launched four satellites, the first launch since a rocket crashed in Kazakhstan in September. Globalstar launched the satellites from Baikonur in Kazakhstan on a Soyuz rocket. ''At 10:54 p.m. Eastern Standard Time, a Soyuz rocket carrying four Globalstar satellites was successfully launched,'' the company said in a statement. The launch has been delayed for months because a so-called technology safeguard agreement between the U.S., Russia and Kazakhstan hadn't been signed. Late last month, the agreement was completed, paving the way for the much-anticipated launch. New York-based Globalstar plans to launch four satellites a month, resulting in 32 satellites in orbit by the end of July. The plans call for the start of commercial service by September, almost a year after its main competitor, Iridium LLC, began operation. Globalstar shares were unchanged at 18 7/8 yesterday, while Loral Space & Communications Ltd., which owns 42 percent of Globalstar, fell 1/8 to 20 5/8. 01:25:43 02/09/1999 For more stories from Bloomberg News, click here. (C) Copyright 1999 Bloomberg L.P. Any redistribution of Bloomberg content, including by framing or similar means, is expressly prohibited without the prior written consent of Bloomberg L.P. Any reference to the material must be properly attributed to Bloomberg News. The information herein was obtained from sources which Bloomberg L.P. and its suppliers believe reliable, but they do not guarantee its accuracy. Neither the information, nor any opinion expressed, constitutes a solicitation of the purchase or sale of any securities or commodities.(C) Copyright 1999 Bloomberg L.P. BLOOMBERG, Bloomberg News, Bloomberg Financial Markets, Bloomberg Television, Bloomberg News Radio are trademarks, tradenames and service marks of Bloomberg L.P. Posted: Feb 9 1999 1:30AM EST as a reply to: Msg 3965 by chowder_head_2001