Iridium consortium in debt talks

Iridium consortium in debt talks
David Manners Iridium, the global satellite telecoms consortium headed up by Motorola, is reported to be in talks with bankers about restructuring its debts. Chairman Ed Staiano said it was “highly unlikely” that Iridium would go bankrupt. Iridium spent $5bn to put up its 66 satellite constellation for mobile telephony and owes $800m to banks and several hundred million more in bonds.


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