Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Frank A. Coluccio who wrote (4146)	1/30/2000 11:58:00 PM
From: Brent Hogenson	Read Replies (1) of 15615

Good point about the cable laying ship capacity. If GBLX owns 30 percent and supposedly the world's most advanced, Tyco owns another 30 percent, that leaves only 40 percent out there. These ships take 2 years to build. If you read the financing of Oxygen, you'll be even more skeptical. They first phase is estimated to cost 15 billion and they have commitments of 250 million so far. Big dreams - small reality. <<Phase 1 will cost in excess of US$15 billion. The cost and configuration of Phases 2 and beyond have not been determined.>> <<In October, Project Oxygen Ltd. signed a tentative agreement with Bezeq International and Elbit Medical Imaging, Israeli companies, through which they would provide funding of US$250 million for the Network's first phase. Bezeq International will be the company's major strategic investor. At present, the we are in serious negotiations with a number of other investors to complete financing of the first phase.>>

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