By Will Sturgeon, 15 March 2002 10:30
NEWS Bankrupt high-speed network operator Global Crossing may have found a buyer in the shape of Fiber Optek Interconnect. The deal follows a $750m bid from Hutchison Whampoa which was rebuffed. Global Crossing's network, which connects more than 200 cities across 20 countries, has been the subject of a lot of investor interest since it filed for Chapter 11 bankruptcy protection. According to the Financial Times Fiber Optek Interconnect is in talks with a financial lender about financing the deal and has said it will accept financial aid from others looking to get in on the deal. However, the final say rests with the courts who will decide upon a bidding procedure next week.
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