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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: J Gunn who wrote (1713)9/5/1999 9:44:00 PM
From: Frank A. Coluccio  Read Replies (1) of 15615
 
JG,

Yes, 1997 sounds about right. In fact, the snippet below explains what took place among the competing entities. That was the year that Neil Tagare left FLAG to form the CTR Group which organized what is now Project Oxygen.

Those routes you alluded to that FLAG now claims in parts of Europe seem to me to be from still another earlier fiber optic project initiative that was called SouthEast Asia- Middle East - Western Europe, or more euphemistically (or humorously, as you see fit), Sea-Me-We.

The following is from Project Oxygen's web site.

Enjoy, Frank Coluccio
----
projectoxygen.com

About CTR

CTR Group, Ltd., founded in June, 1997 in New Jersey, USA, are
the Originators of Project OXYGEN™, the planned global optical fiber
Network with 169,000 km of cable, and 97 landing points in 76 countries
and locations. CTR Group Ltd., are also the Originators of Project
Ozone, and CTR Telecities. CTR was founded by Neil Tagare, who had
been instrumental in the development of the FLAG cable project. FLAG
broke new ground in the submarine cable industry, being the first
privately financed cable in the world. It was also, when it began
operation, the longest undersea cable system, running nearly 28,000 km
from Europe through the Middle East and Southeast Asia to Japan.

CTR stands for "Concept To Reality", a good description of the process
by which Project OXYGEN came into existence. Starting in mid-1997
as an idea on how to bring an entirely new business and technical model
to the international submarine cable industry, six months later Project
OXYGEN was the subject of the largest cable Data Gathering Meeting
in history. Representatives of more than 300 carriers from 150 countries
attended the four-day event in Las Vegas in December, 1997.

Based on its demonstrated expertise in transforming Project OXYGEN
from a concept into a viable business operation, CTR Group in
conjunction with Bechtel Corporation now provides Project
Management services under contract to Project Oxygen Ltd. the
owners and operators of the Oxygen Network.
-----
And from an earlier news release, the NYNEX/BEL involvement is explained:

May 6, 1997

CONTACT: NYNEX, New York - David Frail, 212/395-0500 or Bell Atlantic -
Eric Rabe, 215/963-6531

John F. Killian to head International Telecommunications for the
new Bell Atlantic

NEW YORK -- Bell Atlantic and NYNEX today announced that John F. Killian
has been named group president - International Telecommunications for the
new Bell Atlantic.

As head of one of the post-merger company's five major operating groups,
Killian will oversee its international wireline investments in the United
Kingdom, Thailand, the Philippines and New Zealand as well as Fiberoptic
Link Around the Globe (FLAG), the world's longest undersea fiber optic
cable. He will report to the Office of the Chairman.

Killian has been president and chief executive officer of NYNEX CableComms,
one of the United Kingdom's largest combined telephony-cable television
companies, since Jan. 1, 1996. He also played an integral role in
CableComms' merger into Cable & Wireless Communications, which will be
Europe's largest provider of integrated communications services.

"John has done an outstanding job in leading a new kind of communications
company and building its marketing capabilities as well as its
infrastructure," said Ivan Seidenberg, NYNEX chairman and chief executive
officer. "His talents and experience will help Bell Atlantic realize value
in a new kind of global telecommunications marketplace."

Before joining NYNEX CableComms in March 1995 as chief operating officer,
Killian spent 15 years with NYNEX in positions of increasing responsibility
in accounting, finance, market planning, external relations and operations,
including the vice presidency of Massachusetts. A certified public
accountant, he holds degrees from Providence College and Bentley College.

Killian will be located in New York City.

The proposed merger between Bell Atlantic and NYNEX was announced on April
22, 1996. The combined corporation will serve more than 39 million
telephone access lines and 5 million wireless customers in the eastern
United States and around the world. Shareowners of both companies
overwhelmingly approved the merger in November 1996.

The new Bell Atlantic's five operating groups will be the
Telecommunications, Network, Global Wireless, Information Services and
International Telecommunications groups. The heads of the four other groups
have been previously announced.
----------

Prior to this time frame, NYNEX had actually intended a solo act, but regulatory roadblocks, ostensibly, prevented them from going it alone. Does anyone recall the name of the prvious venture that was eventually disbanded? Something like Optilink...

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