Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: PaperChase who wrote (2556)	10/11/1999 1:57:00 PM
From: Kayaker	of 15615

Global Crossing Keeps Spending, Much to Analysts' Delight By Michael Brick Staff Reporter 10/11/99 1:06 PM ET Global Crossing (GBLX:Nasdaq) Monday agreed to acquire Racal Telecom of Britain for 1 billion pounds ($1.65 billion), continuing its recent shopping spree and delighting analysts....The Racal purchase adds 4,536 miles of cable wires running alongside railway lines, connecting 2,200 towns in Britain, according to a report on the deal from recent Global Crossing underwriter Salomon Smith Barney. Solly's Jack Grubman, who rates the stock a buy, called the buy "hugely positive" for Global....Peter Treadway, an analyst for Ryan Beck who rates Global Crossing strong buy. He said the purchase makes "tremendous strategic sense." (Ryan Beck hasn't underwritten for Global Crossing.) thestreet.com <requires subscription>

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