Hot Line Is Sold to Swiss-Owned Firm
The hot line, the link set up between Washington and Moscow more than 25 years ago to reduce the risk of an accidental war, has fallen into foreign hands.
The hot line was part of a division Western Union Corp. sold last week to Swiss-owned Tele-Columbus USA of New York for $56 million as part of a reorganization, Western Union said.
Western Union kept the division’s telex and international cablegram businesses.
Tele-Columbus is owned by Motor-Columbus AG, a telecommunications and cable television company based in Baden, Switzerland.
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