Update: System finally did boot - accidentally. I use this box rarely to boot 
Ubuntu, most of the time I boot into an old fedora-3. Just for info, and if it 
helps anybody, including the developers, I think the problem is related to 
system motherboard in power up state. If I completely cut power to the computer 
(pull the plug and remove Ethernet cable - I realize, cmos battery is still 
there, so strictly speaking this is not completely dead) then my computer did 
boot into 16.04.
It looks like using reboot option from fedora-3, or even using a dual boot 
feature prevents 16.04 to complete the boot process and enter into the loop 
described above.
I don't know if this is normal behavior, but I thought I'd bring this into the 
attention of anybody who reads this - and maybe help somebody with the same 
problem.
As far as I'm concerned I would close this bug but don't know how.
Janos

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https://bugs.launchpad.net/bugs/1631794

Title:
  16.04 would not boot after installation

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