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

To: Ron who wrote (472)	3/17/1999 9:37:00 PM
From: Teddy	Read Replies (1) \| Respond to of 15615

The Wall Street Urinal article 2: Dow Jones Newswires -- March 17, 1999 Global Crossing, Frontier CEOs Call Merger A Natural Fit NEW YORK (Dow Jones)--Global Crossing Ltd.'s (GBLX) merger with Frontier Corp. (FRO) is a natural fit, according to the heads of the telecommunications companies. The $11.2 billion transaction creates a global approach to the telecommunications market and allows Frontier the opportunity to expand beyond U.S. borders, said Frontier Chief Executive Joseph Clayton. "We had a very robust product portfolio, but we lacked the international competency and competitiveness we need to move more up-market and to better serve our customers," Clayton said during a joint CNBC interview with Global Crossings Chief Executive Robert Annunziata. While Frontier operates the U.S.'s fifth-largest long-distance network, Bermuda-based Global Crossing has an international telecommunications system that includes undersea cables. The executives said they do not expect to lay off employees as a result of the merger because there are very few overlapping operations in the combined company. Earlier, in a joint press release, the companies said the merger will create the first owned-and-operated global Internet Protocol-based fiber-optic network able to provide customers with integrated worldwide Internet, data, long-distance, local-telephone and conferencing services.