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Iridium Ownership
Revealed
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More
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The
new operator of the Iridium system, Iridium Satellite LLC, has
revealed the ownership of the company. Iridium Satellite has
requested that the U.S. Federal Communications Commission (FCC)
waive a limiting 25% ownership cap by foreign investors in U.S.
telecommunication service providers. Foreign investors own a total
of 61% of Iridium Holdings LLC, the parent of Iridium Satellite.
They own a similar percentage in Iridium Carrier, which is seeking
the handset license transfer. The main shareholders are Baralonco NV
(Netherlands Antilles) 24.3% - controlled by Prince Khalid bin
Abdullah bin Abdulrahman, a Saudi citizen; Bareena Holdings Party
Ltd (Australia) 26.9% - owned by Michael Boyd; Milport Associates SA
(Panama) 8.9% - owned by Inepar (Brazil); and Syndicated
Communications Inc (USA) 26.9% - controlled by Herbert Wilkins.
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