Global Crossing claims Tyco stole trade secrets

Article Abstract:

Telecommunications firm Global Crossing announced that it was suing fiber- optic communications contractor Tyco Submarine Systems for stealing its trade secrets and creating a rival firm that would benefit Global Crossing's competitors. Tyco reacted by saying that as of May 22, they had not seen the complaint and that Global Crossing's accusations could be related to a billing dispute between them.

Legal issues & crime, Wired Telecommunications Carriers, Telephone Communications, Global Crossing Ltd.

---

Corning may buy Nortel business

Article Abstract:

Corning Inc is in the process of negotiating the acquisition of Nortel Networks in a deal that could be worth more than $100 billion. Corning shares lost 13% of their value to $248 per share on Jul 24, 2000, on news of the deal while Nortel stock remained unchanged. The culmination of a stock deal between Nortel and Corning, which has a market capitalization of $70 billion, will result in Nortel owning more than half of Corning.

Asset sales & divestitures, Acquisitions & mergers

---

Nortel may sell shares in fiber-optics parts unit

Article Abstract:

Nortel Networks is considering selling shares of its fiber-optics parts unit after discussions about selling the division to fiber-maker Corning for roughly $100 billion failed. The Toronto, Canada-based company estimates that it will raise about $1.2 billion from the stock offering. Nortel is considering such move because it needs funds to finance its expansion through acquisition of other parts makers.

Financial management

Similar abstracts:

• Abstracts: Lucent pays $4.5B, jumps into fiber-optics race. Lucent looks to buy start-up Chromatis. Lucent alarms Street
• Abstracts: Sports cars still speeding into buyers' hearts. Oldsmobile's ID crisis. From L.L. Bean styling to 4-wheel footing
• Abstracts: Daimler expands as shareholders protest. World's biggest blimps set sail soon. Wal-Mart takes slow road in Germany
• Abstracts: FDA probe into antibiotic deaths called inadequate. Heart drug called a lifesaver
• Abstracts: AOL interactive services to be offered in DirecTV. High-speed lines face slow going. Magazine pages to act as Net portals

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.