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

To: SecularBull who wrote (12061)	6/19/2001 8:20:59 PM
From: A.L. Reagan	Read Replies (1) \| Respond to of 15615

There is a $1 bil bridge loan in connection with the Citizens deal, so while in the best case that comes off the $3.5 bil, worse case no cash and $1 bil loan is due.

To: SecularBull who wrote (12061)	6/19/2001 8:53:40 PM
From: Theophile	Respond to of 15615

The thread looked into the CZN deal not too long back. CZN is already including (has been for last qrtr, earnings adjusted for present additions plus future growth) operations numbers for ILEC deal....the deal is a big plus for CZN. I believe we are presently seeing the price reflect hard reality: cash not yet in hand. The upside arbitrage difference (for GX) between the ILEC deal closing vs vaporizing could be significant. In fact, being only 10 days out this is the last opportunity to bring GX price down based upon the fear of the ILEC deal falling through. If the deal were in jeopardy (can't figure why, CZN has already secured financing), and Winnick sold substantial shares prior to the collapse, there could be problems not only for GX but also for Winnick. Gut feeling on CZN deal is it is a done deal; that ILEC offers recurring cash revs which would belong to GX if the deal fell through, not as though it is an antique seeking a buyer. "Nothing in life is guaranteed"...but if you do a search on CZN conference call last qrtr, they discuss the sale as a looked-forward to event. Subsequently the price was dropped from 3.65B to 3.5B to cover costs of retirement issues, squeezing more from GX due to market conditions, and guarantee of earlier closing, now scheduled to close on June 29 '01. We all certainly hope this occurs. Martin Thomas