GBLX ...really stepping up into it's prime, more good news:
(REUTERS) Global<GBLX.O> set to win Racal unit =2
Global<GBLX.O> set to win Racal unit =2
The Financial Times said people involved in the negotiations
were saying that the cash offer from Global Crossing had been
declared the winner of the unit.
Racal and Energis were not immediately available for
comment.
The newspaper said the deal had not yet been formally
signed, but if successful would bolster Global Crossing's
European network to 17,000 km (10,560 miles).
Global Crossing, which recently bought Frontier Corp, said
on Sunday it would soon announce further acquisitions in Europe
or Asia where it was now focusing its expansion.
"You can expect an announcement soon," senior vice-president
Barry Porter told Reuters.
"We are looking at expanding our geographic reach," he said,
adding the company would consider an acquisition if it would
take it deep into a market where it wanted a significant
presence.
Global Crossing is mainly known for its high-capacity
undersea cables but it is rapidly building its onland presence,
targeting 170 cities of which half are outside the United States.
Industry sources said last week Energis was close to
unveiling details of the purchase of the Racal unit. The two
companies announced last month that they were in talks and were
thought to be in the final stages of the deal process.
At stake is Racal's 7,400 km fibre network, crisscrossing
the UK, which delivers fixed and mobile voice, data, Internet
and intranet services to organisations mainly in the transport,
government, retail and financial services sector.
((London newsroom +44 171 542 4019, fax 44 171 583 3769,
uk.equities.news@reuters.com))
($1=.6046 Pound)
REUTERS
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:-)
2MAR$ |
