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

To: Teddy who wrote (1910)	9/9/1999 8:48:00 PM
From: J Gunn	Read Replies (2) \| Respond to of 15615

Dear Teddy, My goodness, you are quick to make assumptions. As Bob Annunziata stated in the CC, Asia Project is a NEW COMPANY, managed by GBLX. The numbers I posted in my previous message are not wrong. Some are from the CC and some are from the HUGE book sent out concerning the Frontier merger. In my questions to the thread, I did not even assign a cost to the development rights GBLX owns in Asia. A valuable asset, I would presume. I do not doubt that this is huge. I simply queried, as this is a NEW COMPANY, how did current GBLX shareholders participate. I am not a shareholder in the ASIA PROJECT Company. It may be brought public at some later date. IDTC spun off NTOP. The IDTC shareholders derived no great benefit from the IPO. The largest benefit went to the new IPO shareholders. MSFT and Softbank bought a 38% interest in a company they assume will be worth 5-7.5 billion dollars for $175 million apiece. I wish I was able to make such great returns. GBLX had a 57.5% interest in PC-1. This deal brings that ownership for GBLX in the NEW COMPANY down to 21.85% when MSFT and Softbank get the balance of their ownership. No doubt, the global network will be built. Who will own it?