Asia Global sees ventures with S'pore Technologies, Dacom

By Bloomberg, Singapore.CNET.com
Thursday, February 08, 2001 09:56 AM
NEW YORK--Asia Global Crossing Ltd, a venture of Softbank Corp, Microsoft Corp and Global Crossing Ltd, will complete ventures soon with Korea's Dacom Corp and Singapore's Singapore Technologies Group, CEO John Legere said.

Asia Global has tentative agreements with Dacom and Singapore Technologies to form ventures similar to its Hutchison Global Crossing unit in Hong Kong, Legere told the Bloomberg Forum.

"You'll see (ventures like) these in each country" where Asia Global operates, he said. Asia Global is building a pan-Asian phone and data communications network. The company's shares have climbed 36 percent since its October initial stock sale.

Asia Global has held discussions about providing capacity to Sprint Corp and Verizon Communications Inc, US telephone companies that announced plans this week to assemble and to run their own worldwide phone-and-data networks, Legere said.

"If you looked at the announcements, what they both said is we need to have the infrastructure. They didn't say they need to build it," he said. "And I'm extremely anxious to continue to show them that I think what we've got is something that can really meet their needs in Asia."

Asia Global is expected to release fourth-quarter results after US markets close on February 12. The company will hold a conference call the following day at 9am New York time.

Two analysts polled by IBES International Inc published earnings estimates on the company. One projected a loss of US$0.14 a share, the other expects a loss of US$0.22.

Asia Global shares dropped US$0.44 to US$9.50. Global Crossing, owner of a worldwide phone and data network based in Hamilton, Bermuda, rose US$0.48 to US$20.98.


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