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Re: Metromedia Fiber warns of possible bankruptcy :-(
My guess is C&W as they have been looking at consolidating some of these. You Telco *with* money still. /Dee joe mcguckin <[email protected]> wrote: > > > > Whoever the buyer is, I hope it's not WorldCom! > > Joe > > On 3/18/02 10:23 AM, "Richard A Steenbergen" <[email protected]> wrote: > > > > > On Mon, Mar 18, 2002 at 10:19:30AM -0800, Rusty H. Hodge wrote: > >> > >> Metromedia said it is seeking to restructure its debts. As of Feb. > >> 28, it had $3.3 billion of consolidated debt and about $37.3 million > >> in cash. A restructuring could substantially dilute the value held by > >> stockholders, the company said. > > ... > >> To raise cash, Metromedia said it plans to sell the facilities of its > >> Internet exchange, PAIX, for about $50 million cash and an equity > >> interest in the buyer. A substantial part of the proceeds from the > >> sale, expected to close in the second quarter, will be used to pay > >> down debt, it said. > > > > $50 mil down, $3.25 billion to go...