GLOBALSTAR LLC ACQUIRES VENEZUELAN SERVICE PROVIDER
OPERATION
Globalstar
LLC, provider of the world‘s most widely used
mobile satellite service, announced today that it has,
through its subsidiary company Globalstar de Venezuela
C.A. signed an agreement with TE.SA.M de Venezuela to
acquire the Globalstar service operations, including
the Globalstar satellite ground station, located in
Venezuela.
Under the
agreement, non-regulated assets have been transferred
to Globalstar de Venezuela, which has assumed responsibility
for management of the Globalstar business in Venezuela.
The transfer of the satellite ground station and other
regulated assets, is subject to the approval of the
Venezuelan Telecommunications Regulatory Commission,
CONATEL. Upon the receipt of the required regulatory
approvals, a second closing, transferring the regulated
assets to Globalstar de Venezuela, will be completed.
“Today’s
announcement is part of our ongoing commitment to expand
and improve Globalstar service for both international
roaming customers working in the region as well as domestic
Venezuelan users, “said Tony Navarra, president
of Globalstar LLC. “This acquisition of the Globalstar
business in Venezuela will allow us to use our expertise
to enhance the capabilities of the regional gateway.
It is also a further indication of our ability to expand
the company’s capabilities and lay the foundation
for the introduction of new and improved global products
and services.”
Because the
agreement will allow for the realignment of gateway
coverage from other properties and set the basis for
establishing a Pan South American service, Globalstar
anticipates that the changes will result in both the
reduction of roaming costs for international customers
as well as improved coverage for those users in the
Caribbean region.
Globalstar
continues to experience strong demand in the Venezuelan
gateway region for satellite voice and data services
among customers in the oil & gas, shipping and maritime
industries as well as those using its rural satellite
telephone service. |
15
December 2005 
