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To: djane who wrote (4568)	5/13/1999 10:50:00 AM
From: Goodboy	Read Replies (1) \| Respond to of 29987

Just got another beauty on the wire. Form 4 SEC from 4/27/99 - 4/28/99 Stiano Edward F. sold 74,900 shares at $14.86 - $15.33. These sales came within days of his departure from Irdium. Ed is not a great trader either. He bought (the foolish bulls have used this as proff the Ed was commited) 25,000 shares at $20.75 on 3/8/99. What do you think Ed knows about the Iridium structure and its near term fate? He should have been as smart as the guy who put this thing together and sold all his stock near $30 (that would be the departed CFO) as he told the street all was well. It amazes me that people continue to cling.

To: djane who wrote (4568)	5/13/1999 2:21:00 PM
From: djane	Respond to of 29987

China Telecom mobile split-off expected in July Thursday, May 13, 1999 BUSINESS MARK O'NEILL in Beijing China Telecom's mobile phone operation is set to be split off in July. This is according to the head of Swedish mobile phone giant Ericsson's mainland operations, who added the market could profitably support four or five nationwide operators. Beijing has announced previously China Telecom, which has a virtual monopoly on mainland telecommunications services, will be split up into four companies responsible for its fixed-line, mobile, paging and satellite operations. Ericsson China chief executive Michael Ricks, said yesterday China Telecom's mobile phone operation would have a new name when it was split off. It would include the company's listed arm in Hong Kong. "It will be a complete split and the new company will be a fully independent operator," Mr Ricks said, speaking at the China Forum of CLSA Emerging Markets. "The owner will be the state but I am not sure of the structure. Four to five nationwide mobile operators could operate profitably in China. "But does the government believe it could effectively regulate four to five operators? They have a lot of different issues they have to look after." China Telecom has more than 25 million mobile subscribers. Its sole competitor, China Unicom, has two million. One million new subscribers sign up each month and the nationwide total will reach 40 million by the end of this year and 120 million by the end of 2003, Mr Ricks said. He said the operators of China Telecom's fixed-line services were unhappy to find themselves excluded from the lucrative mobile market. "These operators are increasingly interested in wireless local loop systems. The question that comes up is: can I upgrade this to mobile later on? They are preparing for being able to offer mobile in the future," he said. Asked about the impact of the mainland's accession to the World Trade Organisation, Mr Ricks said it would reduce the requirement for local content, which had been hard to implement in products with a short life cycle. Another advantage would be that holding companies set up in the mainland by foreign firms such as Ericsson would be able to operate as they were supposed to, which would reduce the cost of doing business. Mr Ricks was asked how the government would deal with the so-called China-China-Foreign joint ventures declared illegal last year. China Unicom raised more than US$1.4 million from foreign companies under the ventures. "A working group has submitted proposals to the government. China intends to resolve the problem equitably, perhaps through conversion of debt into equity," he said. "But the financial situation of Unicom is complex, with agreements signed with 60 foreign operators." Copyright (c)1999. South China Morning Post Publishers Ltd. All Rights Reserved.