June 18, 2002 |
Long-struggling XO Communications Inc., a debt-laden telephone and Internet service provider founded by mobile phone pioneer Craig McCaw, added its name to the carnage in the telecom industry Monday by putting itself in bankruptcy, where a judge will help sort out its future. The Reston, Va., company, which financiers Carl Icahn and Theodore J.
November 30, 2001 |
XO Communications Inc., a telecommunications company with more than $2 billion in losses in the last year, agreed Thursday to a takeover by Forstmann Little & Co. and Telefonos de Mexico to avoid bankruptcy. The company's shares fell 22% after it said the takeover by Theodore Forstmann's leveraged-buyout firm, which had invested more than $1.2 billion in the company, and Telmex will wipe out the value of most shares.