Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: JDN who wrote (2524)	10/11/1999 5:43:00 AM
From: Hans U. Tschanz	Read Replies (1) \| Respond to of 15615

Hi all. Bought some shares recently and just saw the following article: Monday October 11, 4:32 am Eastern Time Global Crossing not current bid target LONDON, Oct 11 (Reuters) - Bermuda-based telecommunications group Global Crossing Ltd, whose shares rose last week on speculation of a takeover rumour, has not received any offers, sources close to the company said on Monday. Global Crossing's shares rose almost 13 percent on Friday, closing up $4-5/16 to $36-1/2 on rumours that Germany's Deutsche Telekom AG and U.S. group BellSouth Corp (NYSE:BLS - news) were interested in the company. The rumours were fuelled by last week's record-setting $115 billion proposed takeover of Sprint Corp (NYSE:FON - news) by MCI WorldCom Inc (NasdaqNM:WCOM - news), which has forced firms to look for partners in order to survive in an increasingly competitive industry. There have also been press reports that Deutsche Telecom held preliminary talks with Global Crossing last summer but the talks came to nothing. Meanwhile, Global Crossing consolidated its European presence on Monday by unveiling a takeover of the telecommunications arm of Racal Electronics Plc (quote from Yahoo! UK & Ireland: RCAL.L) for one billion pounds. Speaking to Reuters after announcing the deal, vice-chairman Thomas Casey declined to comment on Friday's rumours but said: "We would be in conversation with anybody who wants to be global.