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

To: Bryce Elkins who wrote (2497)	10/10/1999 11:14:00 AM
From: Peter Zuccaro	Read Replies (4) \| Respond to of 15615

New to GBLX looking for a short term target. Am I to late for this run

To: Bryce Elkins who wrote (2497)	10/10/1999 11:54:00 AM
From: TechMkt	Read Replies (2) \| Respond to of 15615

Just received this. Glad to see us expand internally instead of being acquired. I think we'll see a little pullback this week since everyone was anticipating a buyout, but GBLX is still my long term hold. I see $70 in a not too distant future. Fez __________________________ TELECOMS-Global Crossing set to make more buys GENEVA, Oct 10 (Reuters) - Global Crossing Ltd (GBLX.O), the rapidly growing U.S. network operator that recently acquired Frontier Corp, said on Sunday it would soon announce further acquisitions in Europe or Asia where it is now focusing its expansion. ``You can expect an announcement soon,' senior vice-president Barry Porter told Reuters. ``We are looking at expanding our geographic reach,' he said, adding the company would consider an acquisition if it would take it deep into a market where it wanted a significant presence. The company is eyeing long distance as well as local loop networks. Porter said Global Crossing would only buy companies which own state-of-the art networks. Global Crossing is often rumoured to be on the buy list by telecoms operators who want to get access to the network of fibre optic, high capacity cables that offer a seamless connection around the U.S., Europe and later this year also Japan. Global Crossing is mainly known for its high-capacity undersea cables but it rapidly is building its onland presence, targetting 170 cities of which half are outside the U.S. In Europe, it is expanding to eastern Germany, Spain and Italy after Britain, the Netherlands and France. ``We are very happy with the path we have chosen and we expect to continue to grow on our own. There are a lot of rumours out there but we do not comment on that,' he said. ``It is a nice validation of the strategy that we have worked on that the way to serve businesses -- ISP and carrier clients -- is to have this high capacity seamless network. Whether we continue to grow organically or whether years from now we are part of a larger organisation, we really have something that is extremely valuable,' he said. Wall Street analysts expect Global Crossing to have 2000 revenues of four billion dollars and an EBITDA, earnings before interest tax and depreciation, of one billion. ``We are already cash positive on an EBITDA level. We are geared for growth and we pay less attention to earnings per share or dividend. We want to re-invest our cash,' Porter said. 11:46 10-10-99