AnswerID: 225124 Submitted: Saturday, Mar 03, 2007 at 19:35
Member - John (Vic)
replied:
From the Australian Financial Review Feb 17th 2007.
"Fulcrum Equities formally known as Quadrant Iridium is 54 % owned by Michael Boyd best known as one of the early share holder behind one of
Australia's best international corporate success stories, Sonic Heathcare.
Fulcrum has been in negotiations to sell its 6.35% stake in the US Satellite mobile phone group Iridium to a hedge fund but the deal hasn't been completed because of the hedge funds tax issues and the emergence of other buyers.
In recent weeks Iridium's listed rival Globalstar has emerged as a buyer of the whole of Iridium because of problems with its own satellites that appear hard to fix.
Buying Iridium would provide an instant solution and consolidate the satellite telecommunications market which has had its well documented problems over the years.
Fulcrum seems to be selling partly because Iridium is looking to spend a speculated $2 Billion-plus to deploy the next generation of satellites."
Seems that this extract from the Financial Review contradicts the claims made by Aviation Week & Space Technology????
Also have a look at Post No 42152 for more Global$hit information.
Given the market believes that Global$hit is in the crap big time (Stock Price has lost more than 50% in recent times) and the company has continued to mislead its customers about the quality of its service I would seriously doubt anything they claim they will do to improve their service.
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FollowupID: 486089 Submitted:
Saturday, Mar 03, 2007 at 21:43
Member - Mike DID posted:
If Iridium were being partially bought out by a competitor, I think they would be mentioning it in their reports.
Site Link
"About Iridium Satellite
Iridium Satellite LLC (http://www.iridium.com/) is the only provider of truly global satellite voice and data solutions with complete coverage of the earth (including oceans, airways and Polar Regions). Iridium delivers essential
communications services to and from remote areas where no other form of communication is available. The Iridium constellation consists of 66 LEO, cross-linked satellites and has multiple in-orbit spares. The constellation operates as a fully meshed network and is the largest commercial satellite constellation in the world. The Iridium service is ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium provides service to the U.S. DoD. The company also designs, builds and sells its services, products and solutions through a worldwide network of more than 100 partners. "
The EXTRAORDINARY GENERAL MEETING DOCUMENTS 13 February 2007 of Advance Healthcare Group make no mention of Iridium or Globalstar.
And I used to think of the Fin Review as a reliable source of information . . . . .
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FollowupID: 486099 Submitted:
Sunday, Mar 04, 2007 at 03:20
Member - John (Vic) posted:
Sorry must have missed something there Mike, What's Advanced Heathcare got to do with Iridium other than the guy who is the current major shareholder in Fulcrum used to be associate with Sonic????
The article is merely providing a back ground to a well known Australian businessman who now has interests in Iridium.
Also would not expect to see a company who is a potential takeover target (Iridium) publicising the fact that a competitor "may" be a potential buyer!
Most companies don't release speculative information until a offer is on the table.
Its pretty obvious that this source of info has come through other mainstream financial market reports.
But time will tell if anything happens or not.
I would think the Fin Review is a more reliable source of info on stock market issues than Aviation Weekly.
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