Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Madharry who wrote (1904)	9/9/1999 5:42:00 PM
From: J Gunn	Read Replies (2) of 15615

Asia Project Math. 1. GBLX owned 58% of PC-1 and states a $231 Million cash position in it. (What is its current value?) 2. Asia Crossing will cost 1.2 billion. 3. MSFT and Softbank invested $175 million each 4. $850 million balance required to construct. 5. How much cash will GBLX put in? Where will it come from? Earnings from Atlantic cable? 6. S & P credit rating based on limited future debt accumulation 7.$850 million + $231 million = $1.081 billion for GBLX share of investment. 8. MSFT and Soft bank for $350 million get 38% of company if it becomes worth $5-7.5 billion. No mention of additional investment. Buying capacity for $200 million over 3 years after it is completed is not investment. 9. Sounds like a good deal for MSFT and Softbank 10. Why is it a good deal for GBLX shareholders who may not be awarded shares if joint venture is taken public?

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