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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Wyätt Gwyön who wrote (6563)6/19/2000 9:55:00 AM
From: gizelle otero  Read Replies (2) of 15615
 
The reason GBLX failed to acquire EQUANT is quite simple: GBLX no longer has the currency it once did. It can no longer count on another successful debt offering and the share price has been trashed. It would have been much better for them to have not made the attempt at all than to make the bid and fail. GBLX really screwed the pooch on this one. But I'm certain it will not deter Winnick and his "friends and family" from continuing to use GBLX as their personal piggy bank. It's a virtually endless supply and when you have so much, who cares about the share price? I think there is a general belief among the brightest analysts on Wall Street that GBLX has crested.
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