Against CI’s wish, the media has not forgotten XO.

Now he has to worry about the litigation with R2 and all the minority shareholders seeking to unwind the 2008 financing.

CI faces the cool reality of losing the access to the $3.1 billion NOLs along with the 80+% of XO ownership. (Is that the reason XO has not yet received any payment from Icahn and Co.?)

The best approach to Icahn seems to pay $3.75/share – if R2 would accept the price they paid – to the minority shareholders at a total cost of about $320 millions assuming 85 million shares he yet to own.

That is the money he has to pay any way, and only costs him one third of the money he would receive from the NOLs credit. (Is that right?)