GSTXQ - i still haven't been able to pull the trigger yet. I hope you're right though...i was watching it today and especially near the close I saw some pretty nice buys go through. I may take a small position come monday. who knows?
i caught this on si...not sure if it's new news...
Time Warner Telecom Purchase of GST Assets Scheduled for Court
Hearing
LITTLETON, Colo., Sep 15, 2000 /PRNewswire via COMTEX/ -- Time Warner Telecom Inc. (Nasdaq: TWTC chart, msgs), a leader in delivering converged communications services to businesses over its fiber, facilities-based networks, and GST Telecommunications, Inc., today announced an agreement to extend their deadline to obtain U.S. Bankruptcy Court approval of the proposed transaction, whereby Time Warner Telecom will purchase substantially all of GST assets for $690 million, until Sept. 21, 2000. Yesterday, the U.S. Bankruptcy Court for the District of Delaware scheduled this
date for a hearing to consider final approval of the transaction.
Time Warner Telecom was the successful bidder for GST assets during auction proceedings approved by the U.S. Bankruptcy Court that concluded August 25, 2000. In addition to final approval by the U.S. Bankruptcy Court, the transaction is subject to regulatory approvals and other customary terms and conditions.
About Time Warner Telecom Inc.
Time Warner Telecom Inc., headquartered in Littleton, Colo., builds local and regional optical networks and delivers "last-mile" broadband data, Internet access and voice for businesses. The company currently serves customers in 22 U.S. metropolitan areas including: Austin, Dallas, Houston and San Antonio, Texas; Charlotte, Fayetteville, Greensboro and Raleigh, N.C.; Albany, Binghamton, New York City and Rochester, N.Y.; Northern New Jersey; Cincinnati and Columbus, Ohio; Memphis, Tenn.; Orlando and Tampa, Fla.; Indianapolis, Ind.; Milwaukee, Wisc.; San Diego, Calif.; and Honolulu, Hawaii. Time Warner Telecom plans to activate its networks in the Los Angeles/Orange County, Calif. and Dayton, Ohio markets later this year. The company will begin offering service in Denver, Chicago, Atlanta, Minneapolis and Columbia, S.C. in mid-2001. Please visit www.twtelecom.com for more information.
This press release includes Forward-Looking Statements (as defined in the Private Securities Litigation Reform Act of 1995) regarding the company's growth and prospects. The accuracy of these statements is subject to a number of business, market and other factors beyond the company's control, including those stated above and as periodically described in our SEC filings, and actual results may be materially different than such statements suggest. For further information, investors are referred to the
section entitled Forward-Looking Statements of the company's most recent Form 10-K, 10-Q and other filings, which statements, to the extent applicable, are incorporated into this press release.
Source: Time Warner Telecom Inc.
Contact:
investors, Mark Peters, 303-566-1000,
mark.peters@twtelecom.com, or media, Bob Meldrum, 303-566-1354,
bob.meldrum@twtelecom.com, both of Time Warner Telecom
URL: twtelecom.com |
