Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Linda Pearson who wrote (1241)	6/26/1999 8:31:00 AM
From: John Carragher	Read Replies (1) of 15615

today's Barron's (trader)column Qwest Communications International's higher bid for US West last week could let it wrest the smallest of the Baby Bells from the clutches of another upstart telecom outfit, Global Crossing. Qwest last week offered $69 in stock for US West and guaranteed that price as long as its shares remain above a "collar" price of $30.50. Qwest, however, fell 3 1/16, to 33 7/8, as growth-stock investors continued to bail out, leaving the stock only modestly above the bottom of its collar. US West got no lift from the higher Qwest bid, falling a quarter-point, to 57 3/4, as investors apparently decided that even if Qwest's hostile bid succeeds, it may take a year or more before the merger closes. Qwest also has a competing offer for Frontier. US West does have a merger pact with Global Crossing, which is building a global undersea fiber-optic network. But it may be hard for US West's board to turn down the Qwest offer because it's worth about 10% more than the current value of Global Crossing's bid.

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