4/29/2004

Singapore Technologies Telemedia, which bought a 61.5% stake in Global Crossing last year for $250 million, said it was prepared to give Global up to $100 million in short-term financial support after the fiber-optic company revealed that it had made accounting errors. Some analysts have said STT ultimately may need to give Global as much as $250 million this year to keep it in business.

Related Summaries