Swissair Buys 5% Stake in IDB: IDB...
From Times Staff and Wire Reports
Swissair Buys 5% Stake in IDB: IDB Communications Group said the deal will set up a 50-50 joint venture based near Zurich, Switzerland, to provide communications services to the aviation industry and to offer Culver City-based IDB’s satellite services within Europe. Swissair will buy 325,000 IDB common shares for $13 each, or $4.2 million, netting IDB about $4 million, contingent on Federal Communications Commission approval.
