4 thoughts on “Dark Clouds over XO?”

  1. Interesting to see how this one works out……my bet is that the creditors will be amicable to a workout given that Icahn owns about 70% of the shares o/s.

  2. telecom has taken many a few savvy investors for a ride and carl ichan is going to realize this the hard way unfortunately. lets see how it all works out

  3. Of course, one should realize that Icahn also holds 95% of the debt as well – yes the debt whose covenants were breached. He has the power to renegotiate the covenants all by himself. Ah what a tangled web…

  4. very true that he owns much of the debt, but the funny thing is the declining revenues will prove to be a double whammy for him. anyone have an estimate on how much he owns as shares and debt?

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