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

To: Sawtooth who wrote (5612)	4/18/2000 10:00:00 AM
From: TechMkt	Respond to of 15615

Always happy to hear that the competition is having a hard time. Fez ________________________ Tuesday April 18, 9:49 am Eastern Time 360Networks cuts range on 46 mln/shr IPO to $12-$14 NEW YORK, April 18 (Reuters) - 360 Networks Inc., a Canadian fiber-optics network builder, has trimmed the range for its 46 million share offering to $12 to $14 per share from $16 to $18, according to underwriter Goldman Sachs. 360Networks could now raise up to $644 million compared to the original plan which could have generated as much as $828 million. The company, which was spun off by the private construction firm Ledcor Industries Ltd. two years ago and still holds about 90 percent of the votes attached to 360Networks' shares, has a fiber network that rings Canada and the United States. Its biggest new project is a trans-Atlantic, undersea fiber-optic network extending to Liverpool, England, and Dublin, Ireland, from Halifax and Nova Scotia in Canada and Boston, Mass. 360Networks is run by chief executive officer Gregory Maffei, 39, who previously was chief financial officer at Microsoft Corp. (NasdaqNM:MSFT - news). The company has applied to list its shares on Nasdaq under the symbol ``TSIX' (NasdaqNM:TSIX - news) and the Toronto Stock Exchange under the symbol ``TSX' (Toronto:TSX.TO - news) once it goes public. Goldman, Sachs & Co. and Donaldson, Lufkin & Jenrette are the joint book-running managers