Posted on 02/18/2002 2:58:06 PM PST by d14truth
Excerprt--"The investments would allow Global Crossing, which led the late 1990's frenzy for globe-spanning communications systems, to avoid a protracted bankruptcy filing. But they hinge on delicate negotiations with its senior lenders, a group of about two dozen banks including Citigroup and J. P. Morgan Chase."
The banks, which met with company officials yesterday in New York to discuss the plan, need to approve changes to their financing agreements before it can restructure with the new equity. Global Crossing and the lenders hope to work on the plan over the next month.
Under the proposal, Li Ka-shing, a Hong Kong businessman, would invest at least $1 billion, and Singapore Telecommunications is also considering a big investment, people close to the situation said.
Deutsche Telekom could also become a large shareholder through a complicated multiyear deal to acquire capacity on Global Crossing's network. As part of that agreement, which is potentially valued at several billion dollars, it would receive warrants that would allow it to buy a large block of Global Crossing shares, these people said."
Oops! Only made it to January.
Looks like one of those 'sell high, buy low' convoluted capitalist outfits. {;~)
Pricewaterhouse Coopers -- audited Hutchison Whampoa according to the Hong Kong Ordinance.(Kind of outside the perview, IMHO.)
"Exchange of Mannesmann shares for Vodafone shares $50,000m"
I think it is 50 billion Hong Kong dollars.
Now, I will complete this 'link' to something I posted Sunday as soon as I find it again.
The 'connection' came from this one.
"Philip Verveer, a politically savvy Washington attorney, recommends a place on a 1994 mission to India for William Ginsberg, CEO of Cellular Communications International
*****
Hold on, I'm getting to the point.
"Olivetti S.p.A. and Mannesmann AG have amended (extended and increased the price of) their offer to purchase all shares of Common Stock of Cellular Communications International, Inc. ("CCIL") (please reference PCX Options Information Bulletin OSB-98-329, dated December 17, 1998, for a description of the initial offering). The amended Offer to Purchase (the "Offer") is described below:...."
Clintons, Verveers, Brown, Ginsberg(CCIL), Mannesmann/Vodafone<-Hutchison Whampoa->/Global Crossing.
'Give me liberty or give me death' -- Do we have any more of those in Congress?
"Vodafone takes control of AirTouch for a sum of $62 billion, in the face of offers from Bell Atlantic and MCI-WorldCom. In terms of market valuation, the new entity will occupy fourth place in the world ranking."
February 1999
"After a first abortive attempt, Olivetti and Mannesmann achieving "with success" their takeover bid for the entire capital of CCIL. This will give them stronger control of Omnitel, second largest mobile operator in Italy, in which CCIL has a 10.3% interest.
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