| The bankruptcy court signed off on a bid for Global Crossing's fiber optic
network Friday to an investment team from Asia.
Global Crossing::
in proceeds for indefeasible rights of use (IRUs) sold in the third quarter. The companys global sales and support model matches the network footprint and,
http://www.globalcrossing.com/news/2007/november/06.aspxHOME |
The deal, approved by creditors last night signals the end of debate over
who would take over the troubled carrier and the start of a major company
overhaul plan, to be filed with the courts next month. Executives plan to
emerge from bankruptcy in 2003.
Global Crossing::
Program, an initiative to develop, market and sell innovative solutions over the worlds first integrated global IP-based network.
http://www.globalcrossing.com/news/2005/october/19.aspxHOME |
Global Crossing::
Global Crossing Extends FCO Network to the Worlds Most Remote Island Community and craft shop will be able to sell stamps and souvenirs on the island website,
http://www.globalcrossing.com/news/2006/may/25.aspxHOME |
Hutchinson Whampoa Ltd. and Singapore Technologies Telemedia Pte Ltd. have
been in the run for Global Crossing's assets since earlier this year. The
deal was struck outside the boundaries of the auction, which was scheduled
for Wednesday and cancelled.
Executives were quick to allay any concerns created by the deal. Lee Theng
Kiat, president and chief executive officer of Singapore Technologies, said
customers don't need to worry about the network going dark during the
transition.
Global Crossing news - FierceVoIP::
Sprint sells off towers to pay down debt. Telco to city: No muni-FTTH for you Global Crossings Next Generation IP Network Extended to Latin America for
http://www.fiercevoip.com/tags/global-crossingHOME |
gxnorms blog | IP Convergence: Beyond VoIP, Beyond Cost Savings::
to their ability to sell broadband to Verizons business Today Global Crossing annouced an addition to our network solutions portfolio Press release
http://blogs.globalcrossing.com/norm?from=60HOME |
"Our three companies will be able to provide continuity on Global
Crossing's international networks and expanded service offerings to benefit
all our customers," he said. "As the telecom market stabilizes, there will
be significant opportunities for the new Global Crossing, its creditors and
employees."
Global Crossing grabs Frontier for $11.2B - Mar. 17, 1999::
give Bermuda-based Global Crossing (GBLX) a network based on Internet technology Frontiers operations selling local and long-distance service will
http://money.cnn.com/1999/03/17/deals/frontierHOME |
CNN.com - Global Crossing finishes optical network project - June 26, 2001::
A four-year optical network project by Global Crossing Ltd. that connecting 200 cities in 27 nations was completed when Global Crossing sells networking
http://edition.cnn.com/2001/TECH/internet/06/26/global.crossing.completed.idgHOME |
Earlier this week, reports surfaced the Asian investors were the top
contenders for Global Crossing's fiber network. Creditors had
originally balked at the Asia investment bid because it was too low for an
international long-haul data network.
The investment duo will have a 61.5 percent ownership stake in the new
Global Crossing, well below the 79 percent stake the two originally
sought. But the price of admission, $500 million, is also much lower than
the $750
million originally put on the table.
According to Global Crossing officials, the remaining 38.5 percent of
Global Crossing will go to creditors in the form of stock.
Global Crossing will retain ownership of three divisions -- conferencing,
U.K. network and Global Marine. The 58 percent stake Global Crossing had
in Asia Global Crossing (a former subsidiary) is also transferred to
Hutchinson Whampoa and Singapore Technologies.
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