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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Frank A. Coluccio who wrote (1211)	6/21/1999 5:08:00 PM
From: John Carragher	Respond to of 15615

ow Jones Newswires CWA Supports Proposed Global Crossing-US West Deal WASHINGTON -- Communications Workers of America warned 14 governors whose states are served by US West Inc. (USW) that Qwest Communications International Inc.'s (QWST) proposed takeover of US West would further undermine phone service while cutting jobs and reducing investments in network and other infrastructure. The states are Arizona, Colorado, Idaho, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming. In a press release Monday, the union said it supports Global Crossing Ltd.'s (GBLX) proposed merger with US West, a deal which calls for just $1 billion in operating expense cuts, with plans to grow revenue by $36 billion through new investment in technology and global business expansion. The union said Qwest's plan to cut US West's operations would exacerbate the difficulties it already has providing quality local telephone service. As reported earlier today, Qwest said it sent letters to its would-be merger partners, US West and Frontier Corp. (FRO), reiterating its desire to merge with both. Qwest is competing to buy the companies with Global Crossing, which has agreements in place to acquire them. Qwest, Denver, is a multimedia communications company. Global Crossing, Bermuda, is an emerging telecommunications company. Frontier, Rochester, N.Y., is a local and long-distance phone company. U.S. West, Denver, is the smallest of the regional Bell local phone giants. -Consella A. Lee; 201-938-5400.