XO Communications won a bankruptcy court auction to acquire the assets of Allegiance Telecom and its subsidiaries except for Allegiance's customer premise equipment sales and maintenance business, its managed modem business and certain other Allegiance assets and operations. The wining bid was for approximately $311 million in cash and approximately 45.38 million shares of XO common stock. XO said the acquisition would make it the nation's largest national local telecommunications services provider, with approximately 330,000 customers and more...
