FLORHAM PARK, N.J.,
May 6, 2011 /PRNewswire/ -- Global
Crossing (NASDAQ: GLBC), a leading global IP solutions provider,
today announced that it will participate in two upcoming financial
conferences to present the company's strategy and financial
performance.
Global Crossing will participate in the Jefferies 2011 Global
Technology, Internet, Media and Telecom Conference. Global
Crossing's presentation is scheduled to begin at 2:20 p.m. EDT on May
10. The conference will be held at the Four Seasons
Hotel, located at 57 East 57th Street, New York, NY.
The following week, on May 16,
Global Crossing will take part in the J.P. Morgan 39th Annual
Global Technology, Media and Telecom Conference. This
presentation will begin at 11:20 a.m.
EDT at the Westin Copley Place, located at 10 Huntington
Avenue, Boston, MA.
The presentations will be posted online at
http://investors.globalcrossing.com.
ABOUT GLOBAL CROSSING
Global Crossing (NASDAQ: GLBC) is a leading global IP, Ethernet,
data center and video solutions provider with the world's first
integrated global IP-based network. The company offers a full
range of data, voice, collaboration, broadcast and media services
delivered with superior customer service.
Global Crossing provides services to enterprises (including
approximately 40 percent of the Fortune 500); government
departments and agencies; and 700 carriers, mobile operators and
ISPs. It delivers converged IP services to more than 700
cities in more than 70 countries, and has 17 world-class data
centers in major business centers around the globe.
Please visit www.globalcrossing.com for more information about
Global Crossing.
Website Access to Company Information
Global Crossing maintains a corporate website at
www.globalcrossing.com, and you can find additional information
about the company through the Investors pages on that website at
http://investors.globalcrossing.com. Global Crossing utilizes
its website as a channel of distribution of important information
about the company. Global Crossing routinely posts financial
and other important information regarding the company and its
business, financial condition and operations on the Investors web
pages.
Visitors to the Investors web pages can view and print copies of
Global Crossing's SEC filings, including periodic and current
reports on Forms 10-K, 10-Q, 8-K, and in respect of GCUK's Forms
20-F and 6-K, as soon as reasonably practicable after those filings
are made with the SEC. Copies of the charters for each of the
standing committees of Global Crossing's Board of Directors, its
Corporate Governance Guidelines, Ethics Policy, press releases and
analysts presentations are all available through the Investors web
pages.
Please note that the information contained on any of Global
Crossing's websites is not incorporated by reference in, or
considered to be a part of, any document unless expressly
incorporated by reference therein.
IMPORTANT INFORMATION FOR INVESTORS AND STOCKHOLDERS
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy any securities or a solicitation of
any vote or approval. The proposed transaction will be
submitted to the stockholders of Level 3, Inc.
("Level 3") and the stockholders of Global Crossing Limited
("Global Crossing") for their consideration. Level 3 and
Global Crossing will file a registration statement on Form S-4, a
joint proxy statement/prospectus and other relevant documents
concerning the proposed transaction with the SEC.
Level 3 and Global Crossing will each provide the final joint
proxy statement/prospectus to its respective stockholders.
Investors and security holders are urged to read the registration
statement and the joint proxy statement/prospectus and any other
relevant documents filed with the SEC when they become available,
as well as any amendments or supplements to those documents,
because they will contain important information about Level 3,
Global Crossing and the proposed transaction. Investors and
security holders will be able to obtain a free copy of the
registration statement and joint proxy statement/prospectus, as
well as other filings containing information about Level 3 and
Global Crossing free of charge at the SEC's Web Site at
http://www.sec.gov. In addition, the joint proxy
statement/prospectus, the SEC filings that will be incorporated by
reference in the joint proxy statement/prospectus and the other
documents filed with the SEC by Level 3 may be obtained free
of charge by directing such request to: Investor Relations,
Level 3, Inc., 1025 Eldorado Boulevard, Broomfield, Colorado 80021 or from
Level 3's Investor Relations page on its corporate
website at http://www.Level3.com and the joint proxy
statement/prospectus, the SEC filings that will be incorporated by
reference in the joint proxy statement/prospectus and the other
documents filed with the SEC by Global Crossing be obtained free of
charge by directing such request to: Global Crossing by
telephone at (800) 836-0342 or by submitting a request by e-mail to
glbc@globalcrossing.com or a written request to the Secretary,
Wessex House, 45 Reid Street, Hamilton HM12 Bermuda or from Global Crossing's Investor
Relations page on its corporate website at
http://www.globalcrossing.com.
Level 3, Global Crossing and their respective directors,
executive officers, and certain other members of management and
employees may be deemed to be participants in the solicitation of
proxies in favor of the proposed transactions from the stockholders
of Level 3 and from the stockholders of Global Crossing,
respectively. Information about the directors and executive
officers of Level 3 is set forth in the proxy statement on
Schedule 14A for Level 3's 2011 Annual Meeting of
Stockholders, which was filed with the SEC on April 4, 2011 and information about the directors
and executive officers of Global Crossing is set forth in the proxy
statement for Global Crossing's 2011 Annual General Meeting of
Shareholders, which was filed with the SEC on April 29, 2011. Additional information regarding
participants in the proxy solicitation may be obtained by reading
the joint proxy statement/prospectus regarding the proposed
transaction when it becomes available.
This press release contains statements about expected future
events and financial results that are forward looking and subject
to risks and uncertainties that could cause the actual results to
differ materially, including: the failure to occur of any condition
to the closing of the acquisition of Global Crossing by Level 3 and
uncertainties as to the timing of the closing; the failure to
achieve or any delay in achieving expected synergies and other
financial benefits from the acquisition; changes in Global
Crossing's risk profile resulting from the acquisition; limitations
on Global Crossing's financial and operational flexibility that
arise under the covenants in the amalgamation agreement that could
restrict it from taking advantage of opportunities to strategically
enhance its business or improve its capital structure; delays or
reductions in purchases from Global Crossing by customers because
of their perceived uncertainty about its ability to meet their
needs after closing of the acquisition; disruptions in Global
Crossing's business due to current and prospective employees
experiencing uncertainty about their future roles with the company
and the diversion of their time and attention from ongoing business
operations; Global Crossing's history of substantial operating
losses and the fact that, in the near term, funds from operations
will not satisfy cash requirements; the availability of future
borrowings in an amount sufficient to pay Global Crossing's
indebtedness and to fund its other liquidity needs; legal and
contractual restrictions on the inter-company transfer of funds by
Global Crossing's subsidiaries; Global Crossing's ability to
continue to connect its network to incumbent carriers' networks or
maintain Internet peering arrangements on favorable terms; the
consequences of any inadvertent violation of Global Crossing's
Network Security Agreement with the U.S. Government; increased
competition and pricing pressures resulting from technology
advances and regulatory changes; competitive disadvantages relative
to competitors with superior resources; political, legal and other
risks due to Global Crossing's substantial international
operations; risks associated with movements in foreign currency
exchange rates; risks related to restrictions on the conversion of
the Venezuelan bolivar into U.S. dollars and to the resultant
buildup of a material excess bolivar cash balance, which is carried
on Global Crossing's books at the official exchange rate,
attributing to the bolivar a value that is significantly greater
than the value that would prevail on an open market; potential
weaknesses in internal controls of acquired businesses, and
difficulties in integrating internal controls of those businesses
with Global Crossing's own internal controls; exposure to
contingent liabilities; and other risks referenced from time to
time in Global Crossing's filings with the Securities and Exchange
Commission. Global Crossing undertakes no duty to update
information contained in this press release or in other public
disclosures at any time.
CONTACT GLOBAL CROSSING:
Press Contact
Allyce Hackmann
+ 1 973 937 0212
Allyce.Hackmann@GlobalCrossing.com
Analysts/Investors Contact
Mark Gottlieb
+ 1 800 836 0342
glbc@globalcrossing.com
IR/PR1
SOURCE Global Crossing