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IDT Corp. Bids on Global Crossing

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Newark, N.J., Feb. 27 -- Global Crossing said in a statement yesterday that it intends to complete its deal with Hutchison Whampoa and Singapore Technologies Telemedia despite IDT Corp.'s offer to buy the bankrupt telecommunications company for $255 million, in the interest of national security. Melinda Tan, spokeswoman for Singapore Technologies Telemedia, In Singapore, told the Associated Press yesterday, "We have a definite agreement with Hutchison Whampoa approved by the bankruptcy court to take over Global Crossing. I do not think IDT will be entertained by the court." IDT submitted a...Read full article

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    Published: February 2003
    CommunicationsdefenseNews & Features

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