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

To: Frank A. Coluccio who wrote (1325)	7/13/1999 7:27:00 AM
From: John Carragher	Respond to of 15615

today's wsj. Global Crossing Makes Frontier Its Top Priority ---- By Rebecca Blumenstein Staff Reporter of The Wall Street Journal NEW YORK -- Global Crossing Ltd., trying to fight off rival bids for Frontier Corp. and U S West Inc., said it is making Frontier its top priority. The Hamilton, Bermuda, telecommunications upstart has merger agreements with Frontier and the Denver-based Bell. But Qwest Communications International Inc. has put higher bids on the table. "Frontier certainly comes first," said Daniel Cohrs, chief financial officer of Global Crossing, which operates an undersea telecommunications cable. "There are a lot of things about U S West that attract us. But right now, we have to focus on Frontier." Still, on the first day of a weeklong road show with investors, Global Crossing officials said they aren't yet willing to increase their bid for Frontier to top Qwest's latest offer. Qwest has bid about $12 billion for the Rochester, N.Y., local and long-distance phone company, compared with the $11.1 billion offer Global Crossing made in March. And some investors say they are more comfortable with Qwest because the Denver-based long-distance company is better established. "We are not really focusing on comparing," said Mr. Cohrs. "We are focusing on why Global Crossing and Frontier make sense together." Global Crossing's shares rose $2.4375, or 6%, to $42.875 in Nasdaq Stock Market trading after the company also said yesterday that its second-quarter revenue will be $190 million, higher than expected. Separately, Global Crossing made a long-awaited Securities and Exchange Commission filing, which now allows Global Crossing officials to emerge out of a so-called quiet period and aggressively sell the Frontier deal to investors.

To: Frank A. Coluccio who wrote (1325)	7/14/1999 7:41:00 AM
From: Teddy	Read Replies (2) \| Respond to of 15615

What the??????? Wednesday July 14, 7:00 am Eastern Time Company Press Release Lucent Technologies Announces Breakthrough Optical Networking System That Delivers High-Speed Data Networking Through the Air Global Crossing will be first to test MURRAY HILL, N.J.--(BUSINESS WIRE)--July 14, 1999-- Using beams of light to transmit information directly through the air, a breakthrough optical networking system from Lucent Technologies (NYSE:LU - news) will dramatically boost the capacity of local data networks and extend the reach of today's high-capacity fiber-optic systems. Lucent's new WaveStar(TM) OpticAir(TM) system will use state-of-the-art lasers, amplifiers and receivers that can be placed on rooftops or in office windows to transmit voice, data or video traffic from point to point through the air. Designed by Bell Labs, the WaveStar OpticAir system will use dense wave division multiplexing (DWDM) technology to increase network capacity in metropolitan areas and campus environments where cost, geography or other constraints may make fiber connections impractical. Global Crossing will be first to test the system -- conducting field trials by December. The first system to use DWDM technology directly through the air, Lucent's WaveStar OpticAir system eventually will enable business customers and service providers to transmit up to 10 gigabits (billion bits) per second (Gb/s) of information between locations. At this rate, customers will be able to transmit the data contained on 15 CD ROMs through the air in less than a second. That's 65 times more information than with today's radio frequencies. ..... biz.yahoo.com Does this change everything?