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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: RobertSheldon who wrote (6530)6/19/2000 7:42:00 AM
From: Wyätt Gwyön  Read Replies (2) of 15615
 
Talks for GBLX to buy ENT are off. GBLX balked at the price. One has to wonder if the cash component requirement--imputed here at $3.5BB, would have meant this was a dead deal from the get-go for GBLX.

One of the hurdles that France Telecom faces in its negotiations with Equant is that SITA -- the largest shareholder in Equant with a 35% stake -- wants to sell its stake for cash and that might compel a potential acquirer like France Telecom to offer the same terms to holders of the remaining 65% of Equant shares. An all-cash offer may prove taxing even for a company of France Telecom's size; the French carrier recently agreed to pay $37.4 billion in cash and stock to acquire Orange PLC, a British mobile-phone operator.
Copyright ¸ 2000 Dow Jones & Company, Inc. All Rights Reserved.
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