Posted on 01/28/2002 6:54:56 AM PST by Dukie
Bloomberg Business Report just announced that Global Crossings, a telecommunications company which established a world wide fiber optics cable network, has declared bankruptcy. Bloomberg further announced a sale of certain of Global Crossings assets to PRC headquarted Hutchinson Whampoa Corporation in conjunction with its bankruptcy declaration.
Howlin, does Miss M know about this?
Funny you should ping. I posted this newsbreaker on a different thread - the one about Terry McAuliffe's
connection w/ Global Crossing where he supposedly made millions (betcha the Klintoons did, too).
Registered did a fantastic McAwful graphic on that thread.
We (Fried Frank Harris Shriver & Jacobson) represent Goldman, Sachs & Co., whose private equity arm, Goldman Sachs Capital Partners, is acquiring, through its wholly owned subsidiary, GS IPC Acquisition Corp., IPC Information Systems, Inc., Asia Global Crossing IPC Trading Systems Australia Pty. Ltd. and certain related assets from Global Crossing Ltd. for $360 million in cash. Goldman Sachs Capital Partners is using equity from six Goldman Sachs funds to partially finance the purchase. Global Crossing, incorporated in Hamilton, Bermuda, owns and operates a system of undersea and terrestrial fiber-optic cable the reaches more than 200 cities in 27 countries. IPC Information Systems and Asia Global Crossing IPC Trading Systems Australia, which supply sophisticated desktop financial trading systems, are being divested to allow Global Crossing to focus on its core business. Working on the transaction are partners Jeffrey Bagner, Donald Carleen, Jack Jacobson, Richard Schwartz, Deborah Garza and Paul Falon and special counsel Debbie Miller.
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I'm having a hard time keeping up just these last two weeeks!
Say, anybody want to make a bet on who gets to the employees of Global Crossing first, Jesse or Klayman? ;-)
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