XO Communications gets $800M from Forstmann, Telmex

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New York--B-to-b telecom and Web hosting company XO Communications Inc. has received an $800 million investment from New York-based Forstmann Little & Co. and Mexico City-based Telefonos de Mexico S.A. Wall Street views the investment as a way for XO, burdened by debt, to get a financial rebirth. Forstmann Little, a major player in the RJR Nabisco takeover wars in the 1980s, has a reputation as a turnaround specialist that shuns debt.
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