Hmmm, the plot thicken and the suspense grows:
The Wall Street Journal -- May 25, 1999
Business Brief -- GLOBAL CROSSING LTD.:
Primus Satellite Capacity Purchased for $25 Million
Global Crossing Ltd., the undersea-cable upstart, has agreed to acquire about $25 million of satellite
capacity from Primus Telecommunications Group Inc. in a bid to broaden its communications
facilities. The companies are expected to announce the pact today, Primus said. Global Crossing,
based in Hamilton, Bermuda, last week agreed to acquire U S West Inc., which operates
local-telephone networks in 14 Western states. Global Crossing has also agreed to purchase Frontier
Corp., which boasts a long-distance network in the U.S. The acquisition of satellite capacity suggests
Global Crossing's willingness to use a variety of technologies to deliver communications services. As
part of the pact, Primus, based in McLean, Va., agreed to acquire some $50 million in fiber-optic
capacity from Global Crossing. |
