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

To: J Gunn who wrote (1905)	9/9/1999 6:52:00 PM
From: J Gunn	Read Replies (4) \| Respond to of 15615

Financing Separate for Asia Project. Found this article that gives a little more detail of the current deal. www2.fiberopticsonline.com{8FCA3A5D-62DC-11D3-9A60-00A0C9C83AFB}&Bucket=Latest+Headlines I still don't understand this deal. Take a current asset, PC-1, invest it in separate joint venture, give 38% ownership away. It just seems that Winnick sold shareholders future away for a pot of porridge.

To: J Gunn who wrote (1905)	9/9/1999 7:26:00 PM
From: mts362	Respond to of 15615

The way I see it, it makes perfect sense. GBLX has given MSFT and Softbank a real incentive to see this thing become a success. They will only own 7% initially, but could make a lot of money if this grows to ~$5B. So in contrast to most of MSFT's investments where they just throw a bunch of money and hope things turn out well, here they have milestones to reach and possibly their CFO on the board. Also, if this goes to $5B, GBLX will still own most of it, so we will all win.