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Replies to post #4866 on Globalstar Inc (GSAT)
12/23/14 1:23 PM
12/23/14 1:32 PM
The Shares originally were acquired by an affiliate of TF in 2006 and 2007 pursuant to a stock purchase agreement whereby the affiliate purchased $200 million, or 12,371,136 shares, of Globalstar voting common stock at $16.17 per share that it subsequently contributed to TF.
TF’s loss on the sale of the Shares offsets a portion of the taxable gain realized by TF and its affiliates from the acquisition of TWTC by LVLT. The investment in TWTC originated from a 2006 sale to TWTC of a majority ownership by a TF affiliate of Xspedius Communications, a long-haul and metro fiber telecommunications network provider.
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