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Li Ka Shing May Invest Over US$1 Bln in Global Crossing: Paper
Dec 21, 2001 - 10:02:18 HKT
Quamnet News Service
Global Crossing is trying to reach a restructuring plan under which Li Ka-shing, chairman of Cheung Kong (0001) and Hutchison Whampoa (0013), would invest at least US$1 billion, the New York Times reported, citing people close to the situation. Singapore Telecommunications is also said to be considering a big investment. Deutsche Telekom could also become a large shareholder through a complicated multiyear deal to acquire capacity on Global Crossing's network, the U.S. paper said.
The investments would allow Global Crossing to avoid a protracted bankruptcy filing.
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