‘Dubya’ gives Global Crossing deal the nod

22 Sep 2003

George W. Bush has given his approval to Singapore Technologies Telemedia’s (STT) acquisition of Global Crossing. In a letter to the US Congress, the President confirmed he would take no action to suspend or prohibit the USD250 million bid. The FCC has still to rubber stamp the bid, although this is expected to be nothing other than routine. The presidential nod comes two months after Singapore’s Prime Minister Goh Chok Tong wrote personally to US Vice-President Dick Cheney to present STT’s case.

Bermuda