Jun, 2003 : XO Appoints Counsel, Boosts Global Crossing Bid
📅 - XO Communications, Inc. (xo.com 👉 Total Reviews: 5
🙌 Average Rating: 1 / 10
👍 Good Reviews: 0
👎 Bad Reviews: 5
👈 Official Responses: 0) announced yesterday it has appointed Lee Weiner as senior vice president and general counsel. Weiner will be entrusted with overseeing all the company's legal affairs.
"We welcome Lee as a member of our executive team," said Carl Grivner, XO Chief Executive Officer. "His experience in the legal field and in the telecommunications industry will be a tremendous asset to XO and help us to succeed in this competitive industry."
Prior to joining XO, Weiner was executive vice president, general counsel and secretary at Net2000 Communications, Inc. He has also held several senior positions at MCI Telecommunications Corporation.
Also yesterday, several news outlets reported that Carl Icahn, who took over XO in bankruptcy court earlier this year, had sweetened the company's bid for bankrupt carrier Global Crossing.
Global Crossing filed for bankruptcy protection in early 2002.
Icahn increased a previous $700 million offer, which was rejected by Global Crossing creditors, by making it all cash and offering to purchase Global Crossing's $2.25 billion in bank debt for $472.5 million. The one condition is that creditors cancel their deal with Singapore Technologies, which currently has an agreement in place to take a majority stake in the firm.
XO Communications is a broadband communications service provider offering a complete set of communications services, including: local and long distance voice, Internet access, virtual private networking (VPN), ethernet, wavelength, Web hosting and integrated voice and data services.
🙌 Average Rating: 1 / 10
👍 Good Reviews: 0
👎 Bad Reviews: 5
👈 Official Responses: 0) announced yesterday it has appointed Lee Weiner as senior vice president and general counsel. Weiner will be entrusted with overseeing all the company's legal affairs.
"We welcome Lee as a member of our executive team," said Carl Grivner, XO Chief Executive Officer. "His experience in the legal field and in the telecommunications industry will be a tremendous asset to XO and help us to succeed in this competitive industry."
Prior to joining XO, Weiner was executive vice president, general counsel and secretary at Net2000 Communications, Inc. He has also held several senior positions at MCI Telecommunications Corporation.
Also yesterday, several news outlets reported that Carl Icahn, who took over XO in bankruptcy court earlier this year, had sweetened the company's bid for bankrupt carrier Global Crossing.
Global Crossing filed for bankruptcy protection in early 2002.
Icahn increased a previous $700 million offer, which was rejected by Global Crossing creditors, by making it all cash and offering to purchase Global Crossing's $2.25 billion in bank debt for $472.5 million. The one condition is that creditors cancel their deal with Singapore Technologies, which currently has an agreement in place to take a majority stake in the firm.
XO Communications is a broadband communications service provider offering a complete set of communications services, including: local and long distance voice, Internet access, virtual private networking (VPN), ethernet, wavelength, Web hosting and integrated voice and data services.
URL source: http://www.thewhir.com/marketwatch/xo061303.cfm
Company: XO Communications
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