Crash and Burn 2001 Message Board

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Strategies & Market Trends : Crash and Burn 2001

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To: Dale Baker who wrote (58)	7/16/2001 12:07:16 PM
From: RockyBalboa	Read Replies (2) of 207

See UPCOY, UCOMA... biz.yahoo.com UPC, Europe's largest cable operator by number of customers, has repeatedly denied it is on the verge of running out of cash. A company spokesman said on Monday UPC knew of no specific reason for its shares to fall and that it had 1.5 billion euros ($1.3 billion), enough to last until 2003. The heavy exodus from UPC could also have been triggered by investor fear that UPC would lose its U.S. Nasdaq listing, analysts said. If it trades below one dollar for 30 consecutive days it would be given a warning and after another 90-day period it could be delisted. ``Everyone's jumping ship. They have just given up on it,'' said one analyst, adding UPC's heavy debt load frightens many investors. ``It's like putting your money on a horse with 50-to-one odds.'' UPC had 7.2 billion euros of net debt by the end of the first quarter. Some investors have switched out of shares and into UPC bonds, which are trading at around 40 percent of their face value. ``If you believe the company could be broken up, then you want to be higher on the pecking order, as bondholders might get something and shareholders would get nothing,'' the London analyst said. PFFFT!

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