> Sorry if this is old news or irrelevant, but here's computerworld.com a story <New U.S.-Asian telecom link delayed>. Is this a competitor having problems or our cable? <
The contractor in that project (above) is Alcatel.
It's a competitor and not part of GBLX's Pacific Crossing 1 [ globalcrossing.com ].
biz.yahoo.com
Asia Global Crossing is a joint venture among Global Crossing (Nasdaq: GBLX - news), SOFTBANK CORP. (Tokyo Stock Exchange: 9984), and Microsoft Corporation (Nasdaq: MSFT - news) created to provide the Asia Pacific region unprecedented access to a broadband, seamless global network through a combination of high-capacity city rings, terrestrial systems, and undersea cables. Asia Global Crossing offers businesses and consumers an array of advanced network-based telecommunications services including state-of-the-art telehouses, web hosting, and electronic commerce, as well as low-cost, high-quality telephony in competition with local incumbent carriers. Asia Global Crossing assets will include Global Crossing's 58% interest in Pacific Crossing-1, a subsea system connecting the US and Japan, and East Asia Crossing, a 17,000-km fiber optic subsea system that will link Japan, Taiwan, Korea, Hong Kong, Singapore, Malaysia, the Philippines, and China.
For owners of/parties to the project in the article you linked, see: japan-us.org
It should be noted though that if the acquisition of IXnet by Global Crossing proceeds as planned, GBLX will then be a part owner as well, by way of ownership of IXnet.
biz.yahoo.com
Wednesday February 23, 11:31 am Eastern Time
IXnet Agrees to be Acquired by Global Crossing Ltd.
IXnet, Inc. Agrees to be Acquired by Global Crossing Ltd.
Feb. 22, 2000--IXnet, Inc. (Nasdaq:EXNT - news) and Global Crossing Ltd. (Nasdaq:GBLX - news) announced a definitive agreement for GBLX to acquire EXNT and its parent company, IPC Communications, Inc. (AMEX:IPI - news), which owns about 73 percent of EXNT's fully diluted shares.
Under the terms of the agreement, GBLX will exchange 1.184 common shares for each EXNT share not owned by IPI, and 5.417 GBLX shares for each share of IPI. The transaction is valued at approximately $62.03 for each of EXNT's 59.2 million fully diluted shares, and $283.71 for each of IPI's 10.1 million fully diluted shares, or a total of approximately $3.8 billion.
The transaction is expected to close in the second quarter of 2000, subject to regulatory approval and customary closing conditions. GBLX reported that the transaction is not subject to shareholder approval; Citicorp Venture Capital, which owns about 60 percent of IPI, has approved the transaction and IPI, which owns about 73 percent of EXNT, has also approved the transaction. |
