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

To: Teddy who wrote (886)	5/14/1999 1:44:00 PM
From: KM	Read Replies (2) \| Respond to of 15615

I tried to short this for an intraday scalp. No shares available. Whoa.

To: Teddy who wrote (886)	5/14/1999 2:25:00 PM
From: Teddy	Respond to of 15615

comments from a couple of guys i never heard of: Fahnestock's Scott Wright on U S West-Global Crossing: Comment Bloomberg News May 14, 1999, 10:48 a.m. PT New York, May 14 (Bloomberg) -- Fahnestock & Co. Inc.'s Scott Wright, a telecommunications analyst, comments on the possible combination of U S West Inc., which provides local phone service in 14 western and midwestern states, and Hamilton, Bermuda-based Global Crossing Ltd., which is building an undersea phone and data network and has agreed to buy No. 5 U.S. long- distance telephone carrier Frontier Corp. for $12.5 billion in stock and assumed debt. Wright rates U S West ''buy.'' ''I think it would be a very interesting combination.'' ''I like the potential marriage of Frontier's backbone with U S West's local assets. There are no deal-stopping regulatory issues. It's a matter of time and money.'' Global Crossing chief executive Robert ''Annunziata rightly understands that if you don't have an aggressive expansion agenda right now, you're going to fall behind. While he's got a pending merger with Frontier, I don't think that adding on a pending merger with another company is necessarily the wrong thing to do.'' ''This puts a big footprint in the U.S., when you put Frontier with U S West. U S West is certainly regional, but it also has some agreements (for) national capacity. But then you add Frontier with the national assets that they're building -- you've got a company that's much more national than it looks.'' Kagan on Possible U S West-Global Crossing Combination: Comment Bloomberg News May 14, 1999, 10:36 a.m. PT Atlanta, May 14 (Bloomberg) -- Jeffrey Kagan, an independent telecommunications analyst based in Atlanta, comments on the proposed combination between Global Crossing Ltd., which is building a global undersea phone and data network, and U S West Inc., which provides local phone service in 14 western and midwestern states. The companies said today that they are discussing a merger agreement. ''This was expected and makes sense for both companies. Global Crossing came out of nowhere in the last few months. It's one of those new marketplace, new breed of phone companies that comes out of the marketplace .... that captures the imagination of the marketplace, that can cobble together a powerful network and a powerful presence before anyone else.'' The proposed agreement ''gives a lot of fuel to the mergers that are already on the table.'' It ''may make them easier to get done. It's very difficult for regulators to ignore the realities of the marketplace, the realities that say you have to be big to compete.'' ''The wave of consolidation is going to continue because customers are going to demand more services from their communications companies and no company can provide all of those in their present form.'' There will be a ''flood of acquisitions and alliances in the next few months and years as companies try to remain competitive.'' It's ''not why U S West and not BellSouth. The question is when. Timing might have just been right, BellSouth (is) digesting a deal with Qwest.'' ''US West has some pros and cons (for Global Crossing). The pros are it doesn't have a lot of competition, competitors aren't beating on their doors to compete in U S West's territories because they're all rural, they're scattered. The downside is it's expensive to wire the network'' because the territory is rural and scattered. When all of the mergers and acquisitions between phone, cable and Internet players are done, ''it's going to end up looking a lot like today's long-distance industry: a handful of super-carriers and a lot of niche players. There'll be plenty of them to go around.'' ''CEOs of big companies used to worry about CEOs of other big companies. Now they lay awake at night and worry about CEOs of startup companies (like Global Crossing) coming along before they can react.''