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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: qveauriche who wrote (14094)10/1/2001 6:56:29 PM
From: Bonzo  Read Replies (2) of 15615
 
Yes, I have posted in the past and recently that GX could sell off Global Marine to raise more cash in the event they needed to. Can someone make a case for keeping Global Marine in light of its mostly fulfilled importance?

From Kaufman:

As an aside, we would like to point out Global Crossing has a card many may
not be considering - the potential sale of its Global Marine business, which it
bought for 800 million (US$1.5-1.6 billion). It generates $700 million in
revenues and $165 million in EBITDA and could fetch as much as US$1 billion
even in this market, which could overfund the company and pave the way for
Global Crossing to consolidate the fragmented telco marketplace.

As I posted:

GX won't go BK imo. If the economy continues to decline causing a faster burn rate Winnick will sell off Global Marine imo. Their primary network build is done so why are they still important to GX?
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