Teleglobe Acquisition Completed, Relaunch Expected

All pending legal and regulatory issues were resolved in the acquisition of Teleglobe by a group of private investors. Teleglobe International is being re-launched as a provider of international voice, wireless roaming, data and Internet services. The company owns and operates an extensive global telecommunications network built over a combination of wavelength IRUs, ownership or participation in 90 fiber optic submarine cable systems, satellite capacity, and leased transmission capacity.
http://www.teleglobe.com

In December 2002, TLGB Acquisition LLC, an affiliate of Cerberus Capital Management and TenX Capital Partners, assumed day-to- day management of Teleglobe’s operations. TLGB’s proposed acquisition of Teleglobe’s core business recently received approval of US and Canadian bankruptcy courts.
In May, Teleglobe filed bankruptcy papers with the Ontario Superior Court.
On April 24, BCE (Bell Canada Enterprises), Canada’s largest communications company, announced that it would cease long-term funding of Teleglobe.

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Every article published by Converge Digest is researched, curated, fact-checked and editorially reviewed by Jim Carroll, Editor & Publisher. AI-assisted drafting may be used to accelerate production, but all content is reviewed, refined and approved prior to publication.