Global Crossing Gets Irish Phone Contract

Global Crossing Ltd., which is building an undersea telecommunications network, said it won an Irish government contract valued at $80 million to link Irish phone companies with the world. Global Crossing, which has corporate offices in Los Angeles, said its Irish subsidiary will build the undersea fiber-optic cable system, and the Irish government will be its anchor customer, reselling capacity on the system to companies. The agreement is expected to lower communication costs for Ireland, which seeks to develop an advanced electronic infrastructure to attract international investment. Irish officials say the nation’s electronic-commerce business is expected to double by 2002. Global Crossing, which sells time and services on its network to other phone companies, is building undersea links between North America, Europe, Asia and Latin America. Separately, Global Crossing said it completed the $885-million acquisition of a Cable & Wireless unit that installs submerged cables. Shares of Hamilton, Bermuda-based Global Crossing were unchanged at $40 Friday on Nasdaq.