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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: ahhaha who wrote (1818)9/8/1999 3:17:00 PM
From: Bonzo  Read Replies (1) of 15615
 
NEW YORK (Dow Jones)--Global Crossing Ltd. (GBLX) Chief Executive Robert
Annunziata may not be happy with his industry, but he is optimistic the planned
pact with Softbank Corp. (J.SFT) and Microsoft Corp. (MSFT) bodes well for his
company.
In a CNBC joint interview Wednesday with Softbank Chief Executive Masayoshi
Son, Annunziata said, "We have over a billion dollars in backlog contracts that
are waiting for us to finish our cables in Japan as well as East Asia Crossing."
"We're not happy with what's happened in the industry or in the marketplace in
total," he said in response to a question about Global Crossing's recently
troubled stock.
However, he expects the deal to prompt more growth for Global Crossing
"because we have a major feed of products and services coming from Asia into
this network."
In addition to "linking the rest of Asia with Softbank and Microsoft,"
Annunziata said, "this is linking the rest of the world" by connecting to Global
Crossing's other international networks. Son was equally upbeat.
"We will now have a total solution for the high-speed Internet connection," he
said.
When asked about Global Crossing's stock, Son said, "Now is the best time for
investment." -Christine Nuzum; 201-938-5172
(END) DOW JONES NEWS 09-08-99
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