GST Telecom (GSTX) 4th quarter earning Message Board

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Technology Stocks : GST Telecom (GSTX) 4th quarter earning

GSTX 0.000300

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Oct 31 9:30 AM EST

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To: Bernard Levy who wrote (360)	8/23/2000 12:51:36 PM
From: Rob Preuss	of 369

GST auction planned today: Tuesday, August 22, 2000 from The Columbian and wire services Vancouver GST auction planned today GST Telecommunications plans to auction off its assets today in New York, but results of the auction and the fate of the bankrupt Vancouver company's 1,000 jobs probably won't be known before Wednesday. GST filed for bankruptcy in May, wilting under a $1.2 billion debt. GST initially planned to sell its assets to Time Warner Telecom, a Colorado company, but later decided to hold an open auction instead. There are a number of possible outcomes to today's auction: A single bidder could step forward and buy all of GST's assets, or multiple bidders could step forward and buy portions of GST. If no acceptable bids are found, GST could emerge from bankruptcy as an independent company. GST says it probably will not announce the results of today's auction before Wednesday morning. Whatever happens, GST has warned investors that it is unlikely they will see any return on their investment. If a bid or multiple bids are accepted today, GST will seek approval for the sale from a Delaware bankruptcy court on Friday. GST employs about 470 people in the Vancouver-Portland area. Source: columbian.com

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