Business Services Industry
Concerns Rise over Stake by Britain's Vodafone in Satellite Phone Operator.
Knight Ridder/Tribune Business News, September, 1999 by Fluendy, Simon
Knight Ridder/Tribune Business News
Sep. 5 -- Concern is growing over the future value of Vodafone's UKpound 175 million stake in satellite mobile phone operator Glo- balstar, scheduled to launch next month.
Globalstar's two competitors in the troubled satellite mobile phone industry, Motorola spin-off Iridium and ICO Global Communications, have both filed for bankruptcy protection after defaulting on debts and running out of time to agree refinancing.
Analysts are concerned that Globalstar may also face problems finding enough customers to pay back the huge investment required to launch 48 satellites.
They fear that, because of the global growth of mobile phone networks, there is limited demand for satellite phones that can be used...
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