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
|
|
Blue Origin describes plans for increased New Glenn launch rates
Posted: Sat, Oct 17 11:41 AM ET (1541 GMT) |
|
news links
|
|
Sunday, October 18
Infostellar Selected for METI’s Global South Future-Oriented Co-Creation Project
Infostellar — 1:12 pm ET (1712 GMT) Meridian Space Successfully Activates its First Communications Payload in Orbit
GlobeNewswire — 1:11 pm ET (1711 GMT) Voyager Awarded $22.4M DoW Contract for Next-Gen Satellite Deployment Systems
Voyager Space — 1:10 pm ET (1710 GMT) Alexander Dahm named new CEO of Rocket Factory Augsburg
Rocket Factory Augsburg — 1:10 pm ET (1710 GMT) Linse Capital Raises $150 Million “Ignition” Strategy for Early-Stage Deep Tech
Business Wire — 1:08 pm ET (1708 GMT) |
