Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: J Gunn who wrote (1912)	9/9/1999 9:50:00 PM
From: akmike	Read Replies (1) of 15615

J-Maybe I can help you a little: GBLX contributed 57.75% of Pacific Crossing-I and 100% of EastAsia (mostly just landing rights) for 93% of Asia Global Crossing. This 93% can be diluted to 62% if the valuation of AGC reaches 7.5bil within a prescribed period. That is a serious multiple of its value today. GBLX doesn't have to contribute further cash or credit to AGC. The 7% owners put up 350mil and some capacity purchases which will help AGC arrange financing. GBLX shareholders received creditable (credit-worthy) partners and users for the Asian network,no further cash investment, and a ticket to telcom's most exciting growth. IMHO this is a hard way to go bankrupt no matter what the esteemed Ahhaha says about this company's direction. Best regards, Mike

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