Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: Big Bucks who wrote (4795)	3/12/2000 6:08:00 PM
From: MangoBoy	Read Replies (1) of 15615

Looks like they're just buying a FLAG asset, not the whole company: The Saudi Telecom Company (STC) has purchased a $1.5 billion underwater cable system from FLAG Telecom Holdings Ltd. to boost the kingdom's global connectivity, the Saudi Gazette reported on Sunday. [...] STC said a consortium of companies outside Saudi Arabia and the Saudi private sector will help pay for the cable system which will stretch from the Red Sea port city of Jeddah to the United Kingdom and the United States.

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