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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: M. Frank Greiffenstein who wrote (1248)	6/28/1999 10:36:00 PM
From: biffpincus	Read Replies (1) of 15615

<<but my impression is that the agressor rarely wins.>> Isn't there a good chance that if qwst's bid fails, than the market could return Qwest to its pre-takeover share price (i.e, the mid-40's). Also, it is my understanding that QWST itself is a takeover candidate. Either way, QWST seems to be poised for either graduation into the telecommunication big leagues as an acquirer, or an attractive prize to someone with a larger grasp ... p.s. here is QWST's response to Frontier's rebuff... Qwest Responds to Frontier Press Release DENVER, June 28 /PRNewswire/ -- In response to the press release issued this evening by Frontier Corporation, Qwest Communications International Inc. (Nasdaq: QWST - news) said it will not revise its current proposal to acquire Frontier based upon the factors mentioned by Frontier in their release. Noting that Frontier's Board continues to evaluate the Qwest offer, the company said, ''As our proposal is superior, particularly in light of Frontier's announcement this evening, we would expect the Frontier shareowners' best interests would be served by a prompt affirmation of our offer so that we may proceed together. Time, of course, is of the essence to us and the Frontier shareowners.'' Qwest remains ready to meet with Frontier's Board to address all aspects of its proposal.

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