Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: djane who wrote (5076)	6/6/1999 11:13:00 AM
From: Rocket Scientist	Read Replies (1) \| Respond to of 29987

djane, you have less time than you think <g>. If all goes well, the 8/16 launch takes us up to 36 sat's. The last launch necessary to start service is the third Delta, the first week of August.... -RS

To: djane who wrote (5076)	6/6/1999 11:19:00 AM
From: Michael Young	Read Replies (1) \| Respond to of 29987

<<C'mon shorts, can't you get your corrupt journalist/hedge fund buddies to slam the MSS sector for the umpteenth time... >> Shorts don't need journalists to taint the sector. IRID has done all the dirty work itself. I'm long GSTRF, but I believe extreme caution is warranted until the service proves itself. The burden is on the longs, not the shorts in this instance. MIKE

To: djane who wrote (5076)	6/7/1999 12:44:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

Unicom's foreign investors miss out in move for share offering Monday, June 7, 1999 TELECOMS YVONNE CHAN China Unicom's remaining foreign investors are unlikely to see their investments converted to shares in the event that the company launches a public stock offering, according to analysts. Unicom recently said it was considering an initial public offering with the intent of raising up to US$1 billion to provide much-needed capital. But its overseas investors - the number of which is unclear because some are thought to have sold out - have reportedly not been approached about a possible shareholding opportunity that would help legitimise Unicom's $1.4 billion in foreign investments. Mainland authorities have ruled the funds as improper. Foreign telecommunications firms, barred from direct involvement in the market, had established China-China-Foreign joint ventures with mainland partners, which then set up joint ventures with Unicom and were paid profits through "consultation" fees. As the mainland government now refuses to recognise such ventures, Unicom's foreign partners have no legal status. The situation put the investors in a precarious situation when Unicom recently attempted to freeze $16 million in revenue payments, said Duncan Clark, a partner at BDA - a consultancy firm specialising in mainland business. He said that if investors were given equity stakes, it might pose regulatory problems as the government had limits on foreign ownership in the telecoms industry. Unicom had already bought out some of its investors, said Peter Lovelock of the Hong Kong research consultancy Big Brains. He said Unicom was seeking to re-negotiate contracts for others. One industry observer did not rule out the possibility that the investors might take legal action against Unicom's listing vehicle, which could cause headaches for the underwriter. He noted recent relations between Unicom and its foreign investors had been lacking in goodwill, with overseas partners being "shoddily treated". Mr Lovelock said the Ministry of Railways - which plans to become the country's second biggest telecoms network - looks set to follow the path of Unicom. "[They are] talking to multinationals as ways of utilising its network and making money," he said. The ministry, which has a nationwide network, would probably leave Unicom to focus on its mobile-phone and Internet telephony businesses, Mr Lovelock said. Copyright (c)1999. South China Morning Post Publishers Ltd. All Rights Reserved.