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Technology Stocks : Flag Telecom Holdings - FTHL
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To: Starowl who wrote (70)5/27/2001 9:17:53 PM
From: Glenn Petersen  Read Replies (1) of 87
 
I had not been aware of FTHL until I ran across the Red Herrring article. It is certainly on my radar screen now. An obvious plus for the company is the fact that their fiber is not land-based. Hopefully, they won't be subject to the same sort of margin pressures that are impacting the land-based carriers. The 28% ownership interest of Verizon is also a plus. A quick read of the most recent 10-Q would seem to indicate that they already have raised close to 80% of the necessary funding for the $3.7 billion buildout and that they have commitments for most of the remainder. However, the 10-Q does add the following disclosure:

"In the event that access to debt capital markets for such types of projects becomes restricted, we would not be able to fund the buildout of our network as currently planned and may therefore seek alternative funding sources or reconsider progressing with the projects in their current form."
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