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Strategies & Market Trends : The Amateur Traders Corner

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To: Tom Hua who wrote (16702)	11/30/2001 11:20:45 AM
From: Ashley800	Read Replies (2) of 19633

Tom, Thanks again..A few months ago I remember you posting your felt XOXO would be a company that probably wouldn't make it. Because of your post I avoided it (only wished I checked with you before going long ENE!). DJ XO Commun/Invest-2:Sees Equity Hldrs Losing Invest Value 29 Nov 07:40 RESTON, Va. (Dow Jones)--XO Communications Inc.'s (XOXO) board approved a preliminary agreement to receive $800 million from Forstmann Little & Co. and Telefonos de Mexico S.A. (TMX) XO also said it won't make scheduled interest and dividend payments on its unsecured notes or preferred equity securities after Nov. 30. XO said in a press release Thursday it will use the equity investment to fund broadband telecommunications networks development, ongoing business operations and to complete balance sheet restructuring. XO expect to have a fully funded business plan once the investment and restructuring are complete. Forstmann and Telefonos will each invest $400 million cash and own 39% of XO each. The remaining equity, other than that allocated to the XO's employees, will be held primarily by senior notes holders. XO expects its current equity securities holders will lose substantially all of the value of their investment as a result of the restructuring. Company Web site: xo.com (MORE) DOW JONES NEWS 11-29-01 07:40 AM

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