SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 2)
Under the Securities Exchange Act of 1934
Globalstar Telecommunications Ltd.
-------------------------------------------------
(Name of Issuer)
Common Stock
------------
(Title of Class of Securities)
379364904
---------
(CUSIP Number)
12/31/99
--------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
<PAGE>
CUSIP No. 379364904
1. Name of Reporting Person
I.R.S. Identification No. of Above Person (entities only)
General Electric Company
I.R.S. #14-0689340
2. Check the Appropriate Box if a Member of a Group
(a) [ ] (b) [ ]
3. SEC Use Only
4. Citizenship or Place of Organization
New York
Number of Shares Beneficially Owned by Each Reporting Person with:
5. Sole Voting Power 4,044,760
6. Shared Voting Power None
7. Sole Dispositive Power 4,044,760
8. Shared Dispositive Power None
9. Aggregate Amount Beneficially Owned
by Each Reporting Person 4,044,760
10. Check box if the Aggregate Amount in Row (9)
Excludes Certain Shares [ ]
11. Percent of Class Represented by
Amount in Row (9) 4.55%
12. Type of Reporting Person CO
<PAGE>
Item 1.
(a) Name of Issuer:
Globalstar Telecommunications Ltd.
(b) Address of Issuer's Principal Executive Offices:
Cedar House
41 Cedar Avenue
Hamilton HM12, Bermuda
Item 2.
(a) Name of Person Filing:
General Electric Company. The securities are held of record
by an indirect, wholly owned subsidiary of General Electric
Company.
(b) Address of Principal Business Office, or if None, Residence:
3135 Easton Turnpike
Fairfield, Connecticut 06431
(c) Citizenship:
New York Corporation
(d) Title of Class of Securities:
Common Stock
(e) CUSIP Number:
See cover sheet.
Item 3. If this statement is filed pursuant to ss. ss. 240.13d-1(b), or
240.13d-2(b) or (c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Act.
(c) [ ] Insurance company as defined in Section 13(a)(19) of the Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act of 1940.
(e) [ ] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with ss.240.13d- 1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance
with ss. 240.13d- 1(b)(1)(ii)(G);
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act;
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940;
(j) [ ] Group, in accordance withss.240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to ss. 240.13d-1(c),
check this box [X].
Item 4. Ownership.
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
See Item 9 of cover page
(b) Percent of class:
See Item 11 of cover page
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote
See Item 5 of cover page
(ii) Shared power to vote or to direct the vote
None
(iii) Sole power to dispose or to direct the disposition of
See Item 7 of cover page
(iv) Shared power to dispose or to direct the disposition of
None
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X ].
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary which Acquired
the Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certifications
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
GENERAL ELECTRIC COMPANY
By: /s/ Janet Bedol
--------------------------------
Name: Janet Bedol
Title: Associate Securities Counsel and
Attorney-in-Fact*
Dated: February 11, 2000
Signed pursuant to Power of Attorney filed as Exhibit 24 to the Schedule 13G
filed by General Electric Company with respect to Plug Power, Inc. and
incorporated herein by reference.
