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Global Crossing Sells Fiber Optic Network

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MADISON, N.J., August 9 -- Global Crossing today announced that it has signed a definitive agreement under which Hutchison Telecommunications Ltd., a wholly owned subsidiary of Hutchison Whampoa Ltd., and Singapore Technologies Telemedia Pte. Ltd. will invest a total of $250 million for a 61.5 percent majority interest in a newly constituted Global Crossing on its emergence from bankruptcy. Global Crossing said its creditor groups support the agreement. The agreement was approved today in a hearing before the Bankruptcy Court for the Southern District of New York. Global Crossing is...Read full article

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    Published: August 2002
    Communicationsfiber opticsNews & Features

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