Singapore Technologies Telemedia (STT) has cleared the final major hurdle to buying a majority stake in bankrupt Global Crossing Ltd after US communications regulators gave the deal the green light.
The Federal Communications Commission (FCC) said overnight in Washington that it had approved the transfer of licences allowing STT, which is an arm of government-controlled Singapore Technologies Group, to buy a 61.5% stake in Global Crossing for US$250mil.
