[38843] in North American Network Operators' Group
Re: 360networks withdraws plans to acquire NetRail
daemon@ATHENA.MIT.EDU (Majdi S. Abbas)
Mon Jun 18 16:33:43 2001
Date: Mon, 18 Jun 2001 13:33:15 -0700
From: "Majdi S. Abbas" <msa@samurai.sfo.dead-dog.com>
To: Josh Richards <jrichard@cubicle.net>
Cc: nanog@merit.edu
Message-ID: <20010618133315.A23714@samurai.sfo.dead-dog.com>
Mime-Version: 1.0
Content-Type: text/plain; charset=us-ascii
Content-Disposition: inline
In-Reply-To: <20010618113957.A27976@cubicle.net>; from jrichard@cubicle.net on Mon, Jun 18, 2001 at 11:39:57AM -0700
Errors-To: owner-nanog-outgoing@merit.edu
On Mon, Jun 18, 2001 at 11:39:57AM -0700, Josh Richards wrote:
> "360networks today announced it no longer intends to acquire NetRail, a
> wholesale Internet service provider, in an all-stock transaction. The
> company announced plans to acquire NetRail earlier this year."
>
> Per the announcement they just sent via e-mail. Looks to be posted on
> <URL:http://www.360.net/> as well.
This appears to be a very good thing for NetRail.
Also from www.360.net:
"360networks announced it will not make a US $10.9 million
interest payment due today on its 12.5% Senior Notes. Under
the terms of the debt, 360networks has another 30 days to
make the payment in order to avoid default consequences
under the Notes."
--msa
