Global crossing
| Global Crossing Limited
|
|
|---|---|
 |
|
| legal form | Limited |
| ISIN | BMG3921A1751 |
| founding | 1997 |
| resolution | 2011 |
| Seat | Hamilton , Bermuda |
| Number of employees | 5,250 (2010) |
| sales | 2.607 billion BMD (2010) |
| Branch | telecommunications |
| Website | www.globalcrossing.com |
Global Crossing was a Bermuda- based telecommunications company that operated a global fiber optic cable network for data transmission.
history
Global Crossing built 1997-2001 global IP - Backbone of such to the. B. also includes the submarine cable AC-1 . The setup and operating costs of the network and the general oversupply of bandwidth meant that the company was unable to meet its payment obligations in January 2002 and had to apply for bankruptcy protection under Chapter 11 of the US bankruptcy law. The corporation's liabilities were $ 12.4 billion. Company founder Gary Winnick recently sold shares worth $ 734 million.
On August 9, 2002, Global Crossing and its creditors agreed to an offer to buy from Asian telecom groups Hutchison Whampoa and Singapore Technologies Telemedia (STT) for $ 250 million for 61.5 percent of the group. In April 2003, Hutchison Whampoa withdrew his bid after US government officials opposed a sale to the Hong Kong company . In December 2003, STT finally took over the 61.5 percent share in Global Crossing.
On April 11, 2011 the takeover by the previous competitor Level 3 was announced with the help of a share swap , which was completed on October 4, 2011. The combined company now operates as Level 3 Communications, LLC .
Individual evidence
- ↑ a b corporateinformation.com
- ↑ dw-world.de
- ↑ spiegel.de , Der Spiegel
- ↑ heise.de
- ↑ telegeography.com
- ↑ Level 3 Completes Acquisition of Global Crossing. (No longer available online.) In: globalcrossing.mediaroom.com. October 4, 2011, archived from the original on December 6, 2011 ; accessed on December 2, 2011 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Level 3 to Acquire Global Crossing. In: globalcrossing.mediaroom.com. April 11, 2011, archived from the original on June 28, 2011 ; Retrieved June 28, 2011 .
- ↑ Level 3 takes over Global Crossing. In: heise.de / heise Netze. Archived from the original on April 11, 2011 ; Retrieved April 11, 2011 .
