SAN JOSE, Calif. and LONDON, U.K. The United States Bankruptcy Court in Delaware has given its approval for ICO GLOBAL COMMUNICATIONS to acquire a majority interest in a reorganized GLOBALSTAR. ICO will become 54%-owner of Globalstar in exchange for investing US$55 million.
Globalstar is the world’s most widely-used hand-held satellite phone service, operating in over 100 countries (www.globalstar.ca). The Globalstar name will continue to seen around the globe as products and services are expanded.
ICO is developing voice, wireless Internet and other packet-data services that will make personal mobile communications possible around the world. See www.ico.com to learn more.