The Inmarsat affiliate company ICO Global Communications, has now raised $1.5 billion from 48 telecommunications operator investors around the world, after an infusion of $1 million each, from operators in Bulgaria, Egypt, Iran and Nigeria. ICO plans to operate a $2.6 billion network of ten Hughes HS-601 intermediate-orbit satellites, providing low-cost global satellite communications using hand-held, pocket-sized terminals, starting in 1999 (Flight International, 4-10 October, 1995).

Source: Flight International