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Short Take: Global Crossing plans new underwater cable

Global Crossing, the Bermuda-based fiber optic carrier, plans to add a new high-speed cable at a cost of $500 million to the two transatlantic cables it already operates. Driven by European demand, the new cable--capable of delivering voice and data at 2.5 terabits (trillions of bits per second)--is slated to be in service in the first quarter of 2001. Earlier this month, Global Crossing announced its intentions to acquire Frontier.

Global Crossing, the Bermuda-based fiber optic carrier, plans to add a new high-speed cable at a cost of $500 million to the two transatlantic cables it already operates. Driven by European demand, the new cable--capable of delivering voice and data at 2.5 terabits (trillions of bits per second)--is slated to be in service in the first quarter of 2001. Earlier this month, Global Crossing announced its intentions to acquire Frontier.