1
EXHIBIT 10.8(g)
[GTS LETTERHEAD]
May 13, 1997
By fax: + 000 000 0000
Xx. Xxxxxxxxxx Xxxxxx,
Vice President
Capital Group Companies, Inc.
000 Xxxxx Xxxx Xxxxxx
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Copy to: + 41 22 741 1722
Mr. Xxxxxx-Xxxxx Xxxxxx
Capital Research International, S.A.
0, Xxxxx xx Xxxxxxx
0000 Xxxxxx, Xxxxxxxxxxx
Dear Messrs. Xxxxxx and Bouvet:
Reference is made to (a) the following agreements, each as heretofore amended,
supplemented or otherwise modified (collectively, the "Cap Re Agreements"): (i)
the Senior Note Purchase Agreement, dated as of February 2, 1996, between
Global TeleSystems Group, Inc. (the "Company") and Emerging Markets Growth
Fund, Inc., as purchaser; and (ii) the Senior Note Purchase Agreement, dated as
of February 2, 1996, between the Company and Capital International Emerging
Markets Fund, as purchaser (collectively, the "Purchasers"); and (b) the
transactions, contracts and actions as listed below and on the attached
Schedule A, collectively, the "Transactions."
The Company or one or more affiliates of the Company, propose to enter into the
Transactions, for which your consent may be required under the terms of the Cap
Re Agreements. The Executive Committee of the Board of Directors has approved
the Transactions, which are described more fully on Schedule A:
1. Barings $4.1 million Bancomsvyaz Financing, to fund capital
expenditures and working capital requirements
2. Monaco Access $4.2 million bank facility, including parent
guarantee
2
Messrs. Xxxxxx and Bouvet
May 13, 1997
Page 2
GTS believes that the Transactions are in the best interest of the Company, and
we hereby solicit the Purchasers' consent, under (and for all purposes of ) the
Cap Re Agreements, to the Transactions.
Please evidence your consent by signing and returning to me a copy of this
letter. Thank you for your cooperation and support.
Sincerely,
/s/ XXXXX XXXXXXX
--------------------------------
Xxxxx Xxxxxxx
Treasurer
Accepted and acknowledged this 14 day of May, 1997:
EMERGING MARKETS GROWTH FUND
By: /s/ XXXXX X. XXXXX
-------------------------
By: Xxxxx X. Xxxxx
Its: Vice President
Accepted and acknowledged this ____ day of May, 1997:
CAPITAL INTERNATIONAL EMERGING MARKETS FUND
-------------------------
By:
Its:
