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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: John Biddle who wrote (2588)10/12/1999 8:05:00 AM
From: AurumRabosa  Read Replies (1) of 15615
 
"They kind of came from nowhere with considerable rapidity."

(Excerpt from today's rehash of the GBLX-Racal deal in the New York Times.)

The move surprised some analysts, who had expected that Energis PLC would acquire Racal, after reports in the British press and briefings by executives at Energis that said a deal was imminent.

"I was quite surprised," said Mark Davies Jones, electronics analyst with Salomon Smith Barney here. "They kind of came from nowhere with considerable rapidity."

Executives close to the deal said the two companies began talking for the first time two weeks ago and signed the agreement on Sunday night. Global Crossing, a communications start-up concern with headquarters in Bermuda, hopes to build and operate a worldwide fiber optic telecommunications network rivaling AT&T and MCI Worldcom.

(That's what I like about these guys, they're fast on their feet. If bought by a telco they'll have to operate in dinosaur time. Hopefully they'll remain independent, foot loose and fancy free.)
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