ICO purchase of Globalstar could fall through
Posted: Mon, Oct 27, 2003, 6:42 PM ET (2342 GMT)
Satellite communications company Globalstar said Monday that it has received permission to reopen talks with other potential investors after an earlier agreement with rival ICO appeared in danger of collapsing. In April ICO agreed to acquire a majority interest in Globalstar, which had been in Chapter 11 bankruptcy protection since early 2002. However, Globalstar announced Monday that ICO now believes that an unspecified condition of the sale agreement "likely will not be satisfied", opening the possibility that the deal itself could fall through. ICO has thus given Globalstar permission to talk with other potential investors in that event, and Globalstar said that it has "already initiated discussions with a number of potential investors." Globalstar continues to operate a constellation of satellites in low Earth orbit that provide phone and data services.
Satellite communications company Globalstar said Monday that it has received permission to reopen talks with other potential investors after an earlier agreement with rival ICO appeared in danger of collapsing. In April ICO agreed to acquire a majority interest in Globalstar, which had been in Chapter 11 bankruptcy protection since early 2002. However, Globalstar announced Monday that ICO now believes that an unspecified condition of the sale agreement "likely will not be satisfied", opening the possibility that the deal itself could fall through. ICO has thus given Globalstar permission to talk with other potential investors in that event, and Globalstar said that it has "already initiated discussions with a number of potential investors." Globalstar continues to operate a constellation of satellites in low Earth orbit that provide phone and data services.| <<previous article | next article>> |
|
news in brief
|
|
Gilmour Space postpones first launch after payload fairing mishap
Posted: Sun, May 18 9:22 AM ET (1322 GMT) Malfunctioning sensors and lighting conditions blamed for IM-2 lunar landing tip-over
Posted: Sun, May 18 9:15 AM ET (1315 GMT) |
|
news links
|
|
Tuesday, May 20
A Defining Era: NASA Stennis and Space Shuttle Main Engine Testing
NASA/Stennis — 3:22 am ET (0722 GMT) NASA’s Perseverance Mars Rover to Take Bite Out of ‘Krokodillen’
NASA/JPL — 3:21 am ET (0721 GMT) Space Biology Kicks Off Workweek as Crew Packs Dragon
NASA — 3:20 am ET (0720 GMT) SpaceX scrub recap: Falcon 9 rocket launch from Cape Canaveral aborts Monday night
Florida Today — 3:18 am ET (0718 GMT) Scientists in a race to discover why our Universe exists
BBC — 3:17 am ET (0717 GMT) |
