Global Crossing U.K. Is On The Market: Report

Law360, New York (May 19, 2008, 12:00 AM EDT) -- As a belated legacy of its period in bankruptcy several years ago, telecommunications carrier Global Crossing Ltd. is reportedly looking to sell its European assets or merge them with a competitor's.

Global Crossing, which entered bankruptcy in January 2002 amid allegations of accounting fraud and emerged in late 2003, has been looking to unload Global Crossing U.K. for several months, according to the Sunday Times of London.

The division had revenues of $578.5 million last year, leading analysts to estimate an eventual purchase price of over...
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