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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who started this subject12/25/2001 2:06:38 PM
From: elmatador  Read Replies (1) of 74559
 
ALMOST BEATS BUYING MANHATTAN How value is destroyed:
QUOTE
ALMOST BEATS BUYING MANHATTAN

If the weakness lingers, however, some firms could be bought at fire-sale prices. Telecom company IDT on Thursday bought most

of the operating assets of bankrupt WinStar Communications for $42.5 million. At its peak in March 2000, WinStar was valued at about $5.9 billion and still boasted assets of almost $5 billion at the time of the deal.

"This is an incredible deal. It might not top the Dutch settlers buying the island of Manhattan for $24, but it comes pretty close," IDT Chairman Howard Jonas said.
UNQUOTE

totaltele.com
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