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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Teddy who wrote (2097)9/24/1999 10:22:00 AM
From: Douglass Smith  Read Replies (2) of 15615
 
Teddy and others,

Thanks for your synopsis of the FRO conference call. I will listen to it today.

Another thing Winnick said at the meeting on Weds. was that all shareholders of GBLX would get shares of Asia Global Crossing when it went public. They are intending to spin it off (at least in part) in order to raise capital to create their Asian network. The rest of their planned network is already financed. Winnick said they would also look into opportunities for shareholders to buy additional shares before the spinoff. Though I don't know how likely that would be.

He made it clear that management had given up the opportunity to sell more shares at $62.50 to US West (during that aborted deal) so that smaller shareholders could get a larger part of that deal.

Doug
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