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Technology Stocks : Leap Wireless International (LWIN)
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To: Pierre who wrote (2347)7/3/2002 12:26:54 PM
From: A.L. Reagan  Read Replies (1) of 2737
 
I think you guys are cracking the code - if a good vulture operator were able to get ahold of the VF paper, one could probably get control of the whole shebang for pennies on the dollar. Yes, the covenants should flow with the note.

If a 'friendly' such as the IJ company were to do the same thing, the notion might be to buy the VF debt at a discount and exchange it for some form of new LWIN equity that wouldn't screw up the spectrum license agreements. This would probably be a better use of "spreading the CDMA gospel" funds than many the IJ company has done.
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