I do not often post here, but I often do read. I have been doing this for many years, and I can see the SHORTS are all over this board.
Was in attendance at the ML conference today, and can tell you that with 6 Billion long distance minutes per month, and 2 BILLION of these minutes coming from Voice Over Internet Protocol, this is a very valuable network.
The original premise with Global Crossing was a very good one: Build an undersea fiber optic network around the world, and people will come.
Unfortunately, they put on far too much capacity far too fast. (and at great expense)
But that's also what makes this network so valuable. The Atlantic Crossing cost 6 BILLION to build, and GX bought it from ATT for $200 million when no one else wanted it.
Now remember: the Asia Crossing cost $2 BILLION to build, and it's only 26 miles long!