GlobalCrossing is in bankrupt protection. They used debt financing and investor money to lay optical fibers, which is now in over supply. Netcom needs invest about same amount $1.9B to light up those dark fibers to make useful. If you look at international market rate for telephone calls (less that 2 cents from US to China), you know how little those investment really worth. Hutchinson (HK Li Jiacheng) had tried but was blocked by US regulator if my memory did not fail me.
