Existing equity holders will be wiped out and what remains should certainly justify 20 cents given past bankruptcies benchmark, and if not, the stock market will collapse further, due to preception that the foam and fizz of the bubble are comparable to bubbles past:0)
Message 16970682
<<Mr. Canning Fok, Group Managing Director of Hutchison Whampoa, and Mr. Lee Theng Kiat, President and CEO of Singapore Technologies Telemedia, said, ``We are excited about the prospect of working with Global Crossing's management team and the opportunity presented by this transaction to develop and strengthen Global Crossing's business.>>
Somebody is excited. I will ask questions later, and put faith in Li Kai-shin;0)
Message 16317539
"Advise to anybody who feels comfortable investing in Hong Kong, buy when Li buys, buy what Li buys. Li's right-hand man, a guy by the name of Fok (*my neighbor two houses down, with two connected houses. No, he does not know I exist, but I know he does not seem worried about the Storm), responsible talking Li out of selling out of Orange during the hard slog in the early 90s, is paid hundreds of millions per year, hiring the best the Goldmans and Merrills has to offer, and has not, so far, done bad deals."
Chugs, Jay |
