From: jeff.dasovich@enron.com
To: psellers@haas.berkeley.edu
Date: 2001-03-06 17:41:00+00:00
Subject: Article:  Bids Made For Broke NorthPoint

FYI.  xoxoxoxoxo
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	Margo Reyna
	03/06/2001 05:05 PM
		 
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		 cc: 
		 Subject: Article:  Bids Made For Broke NorthPoint

Margo Reyna
Regulatory Analyst
Enron Corp., Government Affairs
Phone:  713-853-9191

----- Forwarded by Margo Reyna/NA/Enron on 03/06/2001 05:00 PM -----

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		 Subject: Telecom Services: Broadband Services: Bids Made For Broke NorthPoint


Bids Made For Broke NorthPoint 
Dick Kelsey, Newsbytes 
  
03/06/2001 
Newsbytes News Network 
(c) Copyright 2001 Post-Newsweek Business Information, Inc. All rights 
reserved. 
EMERYVILLE, CALIFORNIA, U.S.A., 2001 MAR 6 (NB). Bidding started today on 
bankrupt broadband services provider Northpoint Communications Group 
[NASDAQ:NPNTQ], more than three months after Verizon Communications [NYSE:VZ] 
killed the companies' merger plan.
Northpoint did not identify bidders or discuss the amount of bids received, 
citing a "quiet period" that precludes disclosure of such details. 
"It is our hope to sell the company as a whole, but we cannot speculate on 
the outcome of this structured sale process," Northpoint Communications 
President and CEO Liz Fetter said in a news release.
Bidding is scheduled to close on March 20 and the winning bid will be 
submitted to bankruptcy court the next day, Northpoint said.
Emeryville, Calif.-based Northpoint filed for Chapter 11 bankruptcy 
protection on Jan. 16, six weeks after Verizon scuttled the companies' plans 
to merge. Northpoint has since sued Verizon for $1 billion in damages over 
cancellation of the merger.
Verizon on Nov. 29 pulled out of the $800 million merger agreement, citing 
Northpoint's deteriorating financial condition. The companies intended to 
merge their digital subscriber line (DSL) businesses into a national 
broadband company.
Northpoint spokesman Marvin Wamble told Newsbytes that the company currently 
employs 1,065 people, down from its peak level of 1,800 workers last year.
Northpoint Communications is on the Web at http://www.northpoint.net
Verizon can be found at http.www.verizon.com
Reported by Newsbytes.com, http://www.newsbytes.com .
16:22 CST Reposted 16:23 CST 

Press Contacts: Marvin Wamble, Northpoint, 510-450-7432, e-mail: 
mwamble@northpoint.net /WIRES ONLINE, LEGAL, TELECOM, 
BUSINESS/NORTHPOINT/PHOTO 

Folder Name: Telecom Services: Broadband Services 
Relevance Score on Scale of 100: 83

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