TyCom, Global Crossing Settle Claims

PEMBROKE, Bermuda, Oct. 17 -- TyCom Ltd. and Gobal Crossing Ltd. have agreed to settle all of their outstanding claims against each other. The claims related to agreements between the two companies for the building and operation of Global Crossing's Atlantic Crossing-1 and South American Crossing fiber-optic cable systems.

The two companies had brought legal action against each other in federal court and in arbitration.

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