Apr, 2002 : Investors Considering Asia Global Crossing: Report

📅 April 5, 2002 - A group of four high-profile investors is considering bidding for Asia Global Crossing, a unit of bankrupt communications firm Global Crossing, according to a report published in The Wall Street Journal.
The group reportedly includes the Carlyle Group of Washington, a buyout firm led by former U.S. Defense Secretary Frank Carlucci, the Emerging Markets Partnership, which is led by the former prime minister of Pakistan, and a Hong Kong conglomerate owned partially by the Chinese government.
According to the report, the companies are interested in paying at least $250 million U.S. for a controlling stake in the firm. An Asia Global Crossing Spokeswoman told the Journal that the company is in the process of meeting with "quite a number" of different investors but could not provide any additional comment.
Global Crossing, a Bermuda-based telecom firm, owns 58% of Asia Global Crossing. Global Crossing filed for bankruptcy protection in late January in one of the biggest U.S. bankruptcies ever. The company is currently considering new investment and restructuring opportunities.

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