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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: A.L. Reagan who wrote (12090)6/20/2001 10:08:17 AM
From: Emile Vidrine  Read Replies (1) of 15615
 
"gx has no dry powder"?

GX could easily take their $7.5 billion capex money for 01 an 02 and redirect it as "dry powder" to acquire the defunct assets rather than build their own. They clearly stated back in March that this was in fact their intentions, and that consequently, there capex for 0 1 and 01 was reduced from some $10 to $7.5 billion. $7.5 billion could buy a lot a basement sales.(some of that capex money has already been spent but I'm sure they should have at least $5 billion unspent)
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