XO Digs Out From the Debt
It seems congratulations are in order for XO Communications (XOHO). The parent company of the Virginia-based CLEC, whose finances have come under scrutiny of late by Wall Street and the press, raised $780 million in a recent stock sale and said this week its “indebtedness for borrowed money … has been retired in full.” CEO Carl Grivner noted in a July 28 statement that the financing frees XO to focus on “high-demand” data, IP and wireless services. How great would it be to see the competitive provider back on solid financial footing, even more ready to take on the re-forming Ma Bell monopoly? (Now if we can get those earnings in the black, things will really be looking up.) XO, here’s to you.
TechJournal South: Virginia’s XO Holdings raises $780 million in stock sale
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