Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Teddy who wrote (2113)	9/24/1999 3:53:00 PM
From: Teddy	Read Replies (1) \| Respond to of 15615

Friday September 24, 3:35 pm Eastern Time Argentina's Impsat signs $50.7 mln network deal BUENOS AIRES, Sept 24 (Reuters) - Argentine data transmissions company Impsat SA said Friday undersea cable network operator South American Crossing Ltd. has agreed to pay it $50.7 million to build two sections of a land-based data network in Argentina. The two lines -- running from the oceanside city of Las Toninas to Buenos Aires and from the city of Mendoza to the Chilean border -- will be connected to South American Crossing's undersea network. South American Crossing is a unit of Bermuda-based Global Crossing Ltd. (NasdaqSC:GBLX - news). Impsat is 59-percent owned by Argentine holding Grupo Pescarmona, 21-percent held by Morgan Stanley Dean Witter & Co. (NYSE:MWD - news) and 20 percent-owned by British Telecommunications Plc (quote from Yahoo! UK & Ireland: BT.L). Impsat signed a deal with Global Crossing in August which will allow Impsat to integrate its individual domestic fiber optic networks into a pan-Latin American network. The company's general manager for Argentina said it plans to spend at least $2 billion in the next five to six years to build the network. The deal will give Global Crossing access to South American cities by hooking up Impsat's land-based networks to Global Crossing's undersea loop. Impsat controls about 45 percent of Argentina's data transmissions market. It also has operations in Brazil, Colombia, Ecuador, Venezuela, Mexico and the United States.