Having atoned for its past sins, Global
Double Crossing is back in the growth mode, and says it will buy FiberNet, a metro area network provider for about $96.1 million. It is no different from a recent buying spree by Level 3 Communications. Level 3 is trying to transform itself from a pure vanilla backbone provider to a more metro services company. That’s where the money is for now. Just a quick rundown of what has transpired since the telecom bubble burst in 2001.
New Qwest = Qwest + OnFiber
Verizon = Verizon + MCI
New AT&T = SBC + BellSouth (pending) + AT&T
Tata Telecom = VSNL + Teleglobe + Tyco
Reliance Communications = Reliance + FLAG Telecom
I am sure I am missing some, so let me know.