Globalstar looking for investment from Inmarsat, Intelsat
Posted: Fri, Jun 7, 2002, 8:21 AM ET (1221 GMT)
Satellite communications company Globalstar is looking for investment by Inmarsat, Intelsat, and other companies as it attempts to reemerge from bankruptcy, Reuters reported this week. Globalstar filed for Chapter 11 bankruptcy protection in February as part of a restructuring effort to eliminate its heavy debt burden. The Reuters article cited sources who said Globalstar was in talks with Inmarsat and Intelsat that could lead to an investment by either or both companies into Globalstar. Inmarsat sees Globalstar as possibly complementary to its existing satellite telephone services. Globalstar is also reportedly in talks with "several major private equity firms" to see funding or possibly a takeover of the company. Globalstar continues to operate its constellation of approximately 50 spacecraft and provide telephony services as it restructures.
Satellite communications company Globalstar is looking for investment by Inmarsat, Intelsat, and other companies as it attempts to reemerge from bankruptcy, Reuters reported this week. Globalstar filed for Chapter 11 bankruptcy protection in February as part of a restructuring effort to eliminate its heavy debt burden. The Reuters article cited sources who said Globalstar was in talks with Inmarsat and Intelsat that could lead to an investment by either or both companies into Globalstar. Inmarsat sees Globalstar as possibly complementary to its existing satellite telephone services. Globalstar is also reportedly in talks with "several major private equity firms" to see funding or possibly a takeover of the company. Globalstar continues to operate its constellation of approximately 50 spacecraft and provide telephony services as it restructures.
Related Links:
| <<previous article | next article>> |
|
news in brief
|
|
|
|
news links
|
|
Wednesday, August 26
Russia’s Starlink Rival “Rassvet” Is Falling—One Satellite Gone, Two More May Be Next
United24 Media — 7:13 am ET (1113 GMT) Zelenskyy Gives Musk State Honor as Ukraine Lobbies for Starlink
Bloomberg News — 7:12 am ET (1112 GMT) Genie Space Edge Processor Achieves Space Heritage with Successful U.S. Space Force Mission
PR Newswire — 7:11 am ET (1111 GMT) China and Russia are nipping at America’s heels in the new space race
Washington Post — 7:11 am ET (1111 GMT) 6,500 Earth Observation Satellites Will Be Launched by 2035 as Next Defense Frontier
Military.com — 7:11 am ET (1111 GMT) |
