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Strategies & Market Trends : Sharck Soup
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To: herry iball who wrote (10636)3/5/2001 10:32:57 AM
From: Softechie  Read Replies (1) of 37746
 
Broadwing sold Corvis stake.

Broadwing/Corvis -2: Corvis Shrs Down 78 Cents Fri
04 Mar 19:59

CINCINNATI (Dow Jones)--Broadwing Inc. (BRW) sold 2.4 million shares of its
minority equity position in Corvis Corp. (CORV) from Jan. 25 to Feb. 28.

In a press release, Broadwing said the sale was completed through a prepaid
forward contract that will generate proceeds of about $43 million.

Broadwing still holds about 5.5 million shares of Corvis.

In Nasdaq trading Friday, Corvis closed down 78 cents to $9.28 on volume of
9.57 million shares.

Corvis and Broadwing are telecommunications companies.
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