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[Mikalvb]

Cable & Wireless kauft 30 von 56 Datenzentralen von Exodus um $570 Millionen:

November 30, 2001

Cable & Wireless to Buy Most of Exodus
For $570 Million, Plus Debt Assumption

By MITCHELL PACELLE and MYLENE MANGALINDAN
Staff Reporters of THE WALL STREET JOURNAL


Cable & Wireless PLC agreed to buy the majority of the assets of Exodus Communications Inc. for about $570 million in cash, plus assumed debt, according to people familiar with the transaction.

The deal was approved by the boards of both companies as well as Exodus`s official creditors` committee. The transaction is expected to be announced as early as Friday morning.

Exodus, Santa Clara, Calif., which filed for bankruptcy protection in September, is one of the dominant providers of Web-hosting service, a market that has fizzled with the dot-com bust. Hard-hit by the failure of so many Internet start-ups that clamored for its service, Exodus tried to win more-stable corporations as customers. It also tried to sell more-lucrative services involved in monitoring and maintaining companies` Web sites.

Exodus, which acquired several companies in a short period of time, including rival Global Crossing Ltd.`s GlobalCenter Holding Co. Web-hosting business, suffered under its tremendous debt burden. Exodus quickly ran out of cash while servicing its large debt. The company had liabilities of $4.4 billion and $5.9 billion in assets.
Exodus Communications Files for Bankruptcy-Court Protection (Sept. 26)

Cable & Wireless, a global telecommunications company based in London, has paved the way to take advantage of the weakened rivals and had already acquired Digital Island, a San Francisco Web-hosting company, for $340 million. That transaction closed in June.

Cable & Wireless`s agreement to buy the Exodus assets, which is occurring through the bankruptcy process, will be subject to bankruptcy-court requirements, giving other potential bidders the opportunity to best its offer.

An Exodus spokeswoman declined to comment. Cable & Wireless couldn`t be reached to comment.

Under the agreement, Cable & Wireless will acquire the best 30 of Exodus`s 56 data centers for about $570 million in cash and about $180 million of assumed liabilities. Cable & Wireless is expected to retain many of Exodus`s customers.

Under the bankruptcy process, the money from the sale will eventually be divvied up among the company`s creditors, under a plan the court will have to approve.

It`s unclear what the company will do with the remaining centers, but it is likely that it will look for other buyers. If that fails, Exodus may have to shut those data centers down. The Web-hosting company has already said it would mothball some data centers.

Under terms of the agreement, if another party emerges with a higher bid, Cable & Wireless will be entitled to a breakup fee of about 3% of the sale price.

Exodus was represented by Lazard LLC.

Write to Mitchell Pacelle at [e-mail] and Mylene Mangalindan at [e-mail]

[FirstDayTrader]

Die Gretchenfrage!!
Wie hoch sind die Verbindlichkeiten von EXDS????
Wenn Ihr das nicht wisst braucht Ihr auch nicht kaufen!!!

Wer weiss es denn??


FDT

[Mikalvb]

Ist halt eine Spekulation, aber Exodus ist in beide Richtungen sehr volatil, so dass Eröffnungskurse über 20 US Cent durchaus möglich sind nach dem Kursverlauf der letzten Tage.

[Mikalvb]

Zudem wird Cable & Wireless $250 Mio. in Exodus investieren, um dem Unternehmen einen CashFlow Breakeven zu ermöglichen