Bush to decide Global Crossing’s fate
President George W. Bush will reportedly decide whether Singapore Technologies Telemedia will get to acquire a controlling 61.5% stake in transcontinental carrier Global Crossing. The proposed deal has been under review by the federal Committee on Foreign Investment, but published reports say Bush should have it in his hands by tomorrow. The President will have until September 19, 2003, to decide whether he will approve the deal. Despite counter offers from IDT and others earlier this year, sources familiar with the proposed ST Telemedia deal expect it to win approval.
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© 2012 Penton Media Inc.
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