[ohmage]

It seems like a steal. All those assets for $250mil. I do not understand it.

Neither do I. Especially when a year and a half ago, HW and STT was reportedly offering 3x as much for control of Global Crossing.

Must be that time value of money thing. Or Global Crossing had a silent auction and AT&T already purchased their fleet .

From China Brief

When Global Crossing filed a Chapter 11 bankruptcy on January 28, Hutchison Whampoa and Singapore Technologies Telemedia offered a US$750 million cash investment for a joint majority (79 percent) stake in the company. Global Crossing's management welcomed the deal, but some shareholders and creditors have objected. If the deal holds up, it would put a major international communications network, one used by the U.S. military and other government agencies, into the hands of a potential foreign adversary. Chinese military doctrine stresses information warfare and sabotage of communications systems as a key to successful asymmetrical warfare against the United States. Thomas Casey's seat on the NSTAC would thus seem inappropriate.

[Johnbalaya]

We've probably switched over to other secure communications over the past 20 months since Globla Crossing went bankrupt. We could use it as a source of disinformation if the foreign governments still think we're tied into it.

[CasearianDaoist]

Yes, I think that there must be some hidden poison in the firm. It makes no sense. Either that or it is some sort of sweatheart deal prompted by political concerns (I do not understand that one either.)

I do know that the military is moving to their own internal network for classified and combat operational data. That does not,of courese keep someone from screwing up the country at large. Internet2 should start coming out of the woodwork in the next few years. I wonder if insiders are expecting an entire new wave of build out?

Again, I am mystified, and I have some experience in the business.