*Pages 1--5 from Microsoft Word - 61432.doc* PUBLIC NOTICE Federal Communications Commission 445 12 th Street, S. W. Washington, D. C. 20554 News Media Information 202 / 418- 0500 Fax- On- Demand 202 / 418- 2830 TTY 202 / 418- 2555 Internet: http:// www. fcc. gov ftp. fcc. gov DA 06- 2470 Released: December 5, 2006 DOMESTIC SECTION 214 APPLICATION FILED FOR THE TRANSFER OF CONTROL OF IMPSAT USA, INC. FROM IMPSAT FIBER NETWORKS, INC. TO GLOBAL CROSSING LIMITED STREAMLINED PLEADING CYCLE ESTABLISHED WC Docket No. 06- 215 Comments Due: December 19, 2006 Reply Comments Due: December 26, 2006 On November 28, 2006, Global Crossing Limited (“ GCL”), and Impsat Fiber Networks, Inc. (“ Impsat“) (collectively, the “Applicants”), filed an application, pursuant to section 63.04 of the Commission’s rules, 1 requesting authority to transfer control of Impsat's wholly owned subsidiary, Impsat USA, Inc.(" Impsat USA"), to GCL. 2 Applicants assert that this transaction is entitled to presumptive streamlined treatment, pursuant to section 63.03( b)( 2)( i) of the Commission’s rules, because the proposed transaction would result in: (1) GCL, as the transferee, having less than a 10 percent (10%) market share in the interstate, interexchange market; (2) GCL, as the transferee, providing competitive telephone exchange services or exchange access services exclusively in geographic areas already served by a dominant local exchange carrier that is not a party to this transaction, (3) and neither GCL nor Impsat (nor any affiliate of either) being dominant with respect to any domestic service. Impsat is a Delaware holding company based in Buenos Aires, Argentina that provides broadband and voice retail and wholesale services to business customers and carriers in South America. Impsat’s U. S. subsidiary, Impsat USA, a Delaware corporation based in Florida, provides satellite and submarine cable- based international services between the United States and Latin America and provides interstate telecommunications services that are incidental to its international services. The jurisdictions in which Impsat USA currently provides domestic interstate telecommunications service are California, Colorado, 1 47 C. F. R. § 63.04; see 47 U. S. C. § 214. 2 Applicants have also filed an application for transfer of control associated with authorization for international services. Any action on this domestic 214 application is without prejudice to Commission action on other related, pending applications. 1 2 District of Columbia, Florida, Georgia, Illinois, Indiana, Michigan, New Jersey, New York, Ohio, Pennsylvania, Puerto Rico, Tennessee, Texas, and Wisconsin. 3 Applicants state that nearly half of Impsat’s stock is held by the following U. S.- based investment firms: Morgan Stanley & Co. (26.4 percent); UBS Securities LLC (19 percent); York Capital Management (12.7 percent), and SDS Capital Partners (5.3 percent), while the remainder is held by management and public stockholders. GCL is a publicly traded global telecommunications company organized under the laws of Bermuda, with its principal administrative offices in Florham Park, New Jersey. Through its U. S. subsidiaries, GCL provides domestic resold and facilities- based interstate telecommunications services on a retail and wholesale basis nationwide. Applicants state that Singapore Technologies Telemedia Pte Ltd (“ ST Telemedia”), an investment holding company organized under the laws of the Republic of Singapore with holdings in various telecommunications and information technology companies, controls GCL through an indirect 56.5 percent equity and voting interest. ST Telemedia is wholly- owned by Temasek Holdings (Private) Limited (“ Temasek”), an investment holding company organized under the laws of the Republic of Singapore, which is, in turn, wholly- owned by the Minister of Finance of Singapore. 4 The following entities will directly or indirectly own at least 10 % of the equity of Impsat and Impsat USA upon consummation of the proposed transaction: U. K. Holdco 2 (United Kingdom Citizenship, 100% owner of Impsat); U. K. Holdco 1 (United Kingdom Citizenship, 100% owner of U. K. Holdco 2); GC International Networks Ltd. (Bermuda Citizenship, 100% owner of U. K. Holdco 1); South American Crossing Holdings Limited (Bermuda Citizenship, 100% owner of GC International Networks Ltd.); Global Crossing Holdings Limited (Bermuda Citizenship, 100% owner of South American Crossing Holdings Limited); GCL (Bermuda Citizenship, 100% owner of Global Crossing Holdings Limited); STT Crossing Ltd. (Mauritius Citizenship, 56.5% owner of GCL); Fidelity Management & Research Co. (U. S. Citizenship, 10% owner of GCL); STT Communications Ltd. (Singapore Citizenship, 100 percent owner of STT Crossing Ltd.); ST Telemedia ( 99.99% owner of STT Communications Ltd); Temasek (100% owner of ST Telemedia). Applicants state that GCL has no other ten percent or greater shareholders. 5 Pursuant to an October 25, 2006 Agreement and Plan of Merger, GCL, GC Crystal Acquisition, Inc. (" GC Crystal Acquisition"), a newly established Delaware corporation and an indirect wholly owned subsidiary of GCL, and Impsat agreed that U. K. Holdco 2, a company to be established under United 3 Applicants assert that revenues from Impsat USA's provision of such domestic interstate telecommunications services represent less than 1 percent of Impsat USA's total domestic and international telecommunications revenues. 4 Temasek also controls Singapore Telecommunications Limited, the dominant provider of domestic and international telecommunications services in Singapore. 5 Applicants state that other individuals and entities hold equity and voting interests of less than 10 percent in GCL, including Richard Rainwater, a U. S. citizen (approximately 5.9 percent) and Carlos Slim Helu, a Mexican citizen (approximately 4 percent), as well as a number of other U. S.- based investment firms and senior officers and directors of GCL. Applicants further assert that three current directors of GCL are also directors of foreign carriers. Specifically, Robert Jay Sachs, Peter Seah Lim Huat, and Lee Theng Kiat are each directors of StarHub Ltd (" StarHub"), a Singapore telecommunications carrier, and Peter Seah Lim Huat, and Lee Theng Kiat are each commissioners of PT Indosat Tbk (" Indosat"), an Indonesian telecommunications carrier. 2 5 Filings and comments are also available for public inspection and copying during regular business hours at the FCC Reference Information Center, Portals II, 445 12th Street, S. W., Room CY-A257, Washington, D. C. 20554. They may also be purchased from the Commission’s duplicating contractor, Best Copy and Printing, Inc., Portals II, 445 12th Street, S. W., Room CY- B402, Washington, D. C. 20554, telephone: (202) 488- 5300, fax: (202) 488- 5563, or via e- mail: www. bcpiweb. com. People with Disabilities: To request materials in accessible formats for people with disabilities (braille, large print, electronic files, audio format), send an e- mail to fcc504@ fcc. gov or call the Consumer & Governmental Affairs Bureau at (202) 418- 0530 (voice), (202) 418- 0432 (tty). For further information, please contact Cecilia Seppings at (202) 418- 1588 or Jodie May at (202) 418- 0913. - FCC - 5