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February 28, 2002 — (WEB HOST INDUSTRY REVIEW) — XO Communications, Inc. announced that it has
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completed the sale of its European Internet Service Provider business.
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Terms of the transaction were not disclosed, but were consistent with the
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assumptions used in determining the restructuring charges relating to the
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decision by XO to exit its European operations, the company said. XO took a
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$320.1 million charge in the fourth quarter to reflect this cost.
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Buyout firms Forstmann Little & Co. and Telefonos de Mexico SA de CV agreed
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to invest $800 million to take over the Reston, Virginia-based telephone and
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Internet service provider, which serves in 63 U.S. markets.
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The restructuring charges were described in XO’s quarterly results press
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release and accompanying attachments for the fourth quarter of 2001 issued
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on Feb. 14, 2002.
