GlobalX Names UK Director

Global Crossing named Trent Holmes managing director designate of its UK business, which it is seeking to sell

April 3, 2002

2 Min Read

LONDON -- Global Crossing today announced the appointment of Trent Holmes as managing director designate of its UK national business. Holmes' appointment follows the announcement on 8 March that Global Crossing is considering the sale of its UK national business that it acquired through the purchase of Racal Telecom in 1999. This measure is part of a phased restructuring initiated by John Legere on his appointment as chief executive officer in October 2001. IPC Trading Systems was sold in December 2001 for $360 million to a consortium led by Goldman Sachs Capital Partners 2000. Global Crossing is actively marketing Global Marine Systems, its sub sea fibre optic cable laying and maintenance division based in Chelmsford in the UK, in addition to its worldwide conferencing business. These measures are designed to maximise cash and intensify the focus on the strategy of providing global data services to more than 200 of the world's top business cities. Holmes' role will be to support preparations for the possible disposal of the UK business, which has a strong presence in the rail transportation sector, as well as a core customer base of 70 government departments and some 500 major corporations. Holmes was formerly director for international carrier services at Racal Telecom. Following Racal Electronic's acquisition of British Rail Telecommunications (BRT) in 1995, he held the post of director of customer services and was a member of the board responsible for integrating BRT with Racal's other telecommunications activities, culminating in the creation of Racal Telecom. Most recently, Holmes was senior vice president of sales and marketing for the European operator Pangea and, prior to that, chief executive officer of the start-up Vine Telecom. His main responsibility will be to co-ordinate all facets of the proposed separation of the national managed services business from Global Crossing's continuing operations in the UK and to engage in negotiations with potential investors. This will include the identification of UK network assets that can be disengaged from Global Crossing's 100,000 route-mile network, while Global Crossing focuses on its core strategy of providing global data services to more than 200 of the world's top business cities. Global Crossing has appointed Close Brothers as advisors. Global Crossing Ltd.

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