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Technology Stocks : GST Telecom (GSTX) 4th quarter earning -- Ignore unavailable to you. Want to Upgrade?

To: Susan Saline who wrote (359)	7/11/2000 3:09:37 PM
From: Rob Preuss	Respond to of 369

Yeah... that's probably where I am... wait and see if this stock decides to come back to life. If not, then I'll grab the loss at the end of the year. If you go to the link in my Post #356 you'll see that there are a dozen or more entities interested in bidding on GST's assets... that's good, if we can raise enough to pay off all the creditors, there may be something left for us shareholders. Also, it seems that + the court has approved bidding procedures (wonder what they are), + initial bids from all potential suitors are due by 31 July, and + final bids are due by 4 August. I'm not sure what goes on between 7/31 and 8/04 but I guess we won't have to wait long for the outcome. I suppose that the creditors may get a chance to review the bids and accept some or reject them all. If they reject them, then I suppose they'd have to offer some sort of debt restructuring that would allow the company to continue operating. But I really don't know anything, this is all just supposition/speculation on my part. Rob

To: Susan Saline who wrote (359)	8/25/2000 3:29:53 PM
From: Rob Preuss	Respond to of 369

[GST to sell virtually all assets to Time Warner for $690M.] =========== Friday, August 25, 2000 TWTC to buy GST for $690 mln --2:15 pm - By Chris Kraeuter Time Warner Telecom (TWTC: news, msgs) will purchase all of the assets of GST Telecommunications for $690 million. The purchase excludes GST's Hawaii assets and residual cash balances. "This agreement complements our agressive expansion plans to introduce robust broadband products and solutions to business customers in additional U.S. markets," said Larissa Herda, president and CEO of Time Warner Telecom. GST filed on May 17 for Chap. 11 protection in Bankruptcy Court. The deal is expected to close later this year. Time Warner Telecom shares are up 1/16 to 62 1/8. =========== Friday August 25, 2:05 pm Eastern Time Press Release SOURCE: Time Warner Telecom Inc. Time Warner Telecom Inc. Agrees to Buy GST Assets for $690 Million VANCOUVER, Wash. and LITTLETON, Colo., Aug. 25 /PRNewswire/ -- Time Warner Telecom Inc. (Nasdaq: TWTC - news) and GST Telecommunications, Inc. today announced an agreement for Time Warner Telecom to purchase substantially all the assets of GST Telecommunications, Inc., excluding the substantial majority of GST's Hawaii assets and residual cash balances, for $690 million. The consideration consists of cash and assumption of certain assumed liabilities. The agreement is subject to the execution of a definitive purchase agreement, approvals of the U.S. Bankruptcy Court for the District of Delaware and other customary terms and conditions. ``This agreement complements our aggressive expansion plans to introduce robust broadband products and solutions to business customers in additional U.S. markets,'' said Larissa Herda, Time Warner Telecom's President and CEO. ``We look forward to the synergies and opportunities this agreement offers to customers, employees and shareholders.'' ``The combination of GST's assets and Time Warner Telecom's strengths should produce exciting benefits for customers of both companies,'' said Tom Malone, Acting CEO of GST. ``We expect the transition process to be smooth, and intend to communicate openly and frequently with our customers, vendors, and employees throughout the process.'' GST had filed on May 17, 2000 in the U.S. Bankruptcy Court for the District of Delaware for protection under Chapter 11 of the U.S. Bankruptcy Code. GST sought and received Bankruptcy Court approval to proceed with an open bidding procedure for the auction of substantially all of its assets. The auction was conducted from August 22 to 25, 2000. GST appeared before the U.S. Bankruptcy Court for the District of Delaware today and received approval to conclude the bidding process and proceed toward a sale to Time Warner Telecom Inc. The agreement is expected to close later this year subject to granting of the final sales order by the court and regulatory and other approvals. Time Warner Telecom Inc., headquartered in Littleton, Colorado, is a leader in building local and regional fiber optic networks to deliver its comprehensive suite of communications products and services to business customers. The company currently provides ``last mile'' broadband data, voice and Internet connections in 22 U.S. metropolitan markets. Los Angeles/Orange County, Calif. and Dayton, Ohio markets plan to launch this year with five additional markets planned for launch in 2001. For more information, visit www.twtelecom.com. GST Telecommunications, Inc., an Integrated Communications Provider (ICP) headquartered in Vancouver, Wash., provides a broad range of integrated telecommunications products and services, including enhanced data and Internet services and comprehensive voice services throughout the United States, with a robust presence in California and the West. Facilities-based GST continues to focus on its western regional strategy by anchoring its next generation networks in local markets and connecting them via long haul fiber networks. Visit GST's Web site at www.gstcorp.com. This press release includes Forward-Looking Statements (as defined in the Private Securities Litigation Reform Act of 1995) regarding the companies' growth and prospects. The accuracy of these statements is subject to a number of business, market and other factors beyond the companies' control, including those stated above and as periodically described in their SEC filings, and actual results may be materially different than such statements suggest. For further information, investors are referred to each of the companies' most recent Form 10-K, 10-Q and other filings, which statements are incorporated into this press release. SOURCE: Time Warner Telecom Inc.

To: Susan Saline who wrote (359)	8/28/2000 8:39:09 AM
From: Rob Preuss	Respond to of 369

Shareholders Lose The $690 million agreement covers only a portion of GST's total $1.2 billion debt. First in line to be paid are a host of telecom infrastructure suppliers and several lenders. As prescribed by bankruptcy law GST shareholders will lose their investment in the company if the sale goes through. Some shareholders have discussed filing a class-action suit against GST, but attorneys say they would be unlikely to get any return from the bankrupt company even if they won. ============ Full article: columbian.com