Hutchison Whampoa Ltd and Singapore Technologies Telemedia Pte said they quit talks to buy Global Crossing Ltd after they failed to agree on terms for purchasing the bankrupt fiber-optic network operator. \nHutchison, owned by Hong Kong billionaire Li Ka-shing, and ST Telemedia had offered in January to pay US$750 million for a majority stake. A bankruptcy judge extended a deadline to make a binding offer until yesterday. The failed talks disqualify Hutchison and ST Telemedia from a US$30 million fee they would have received if Global Crossing had accepted a rival bid. \nThe Asian companies said Thursday they wouldn't raise the initial offer for a 79 percent stake, deemed too low by Global Crossing's creditors. Hamilton, Bermuda-based Global Crossing, beset by US$12.4 billion in debt, now must look to other investors to help it emerge from the fourth-largest Chapter 11 filing. \n"During the past five months, both ST Telemedia and Hutchison have invested a significant amount of time, effort and resources trying to reach an agreement with Global Crossing's creditors and banks," ST Telemedia and Hutchison said in a statement. "While progress was made, major differences among the parties remained." \nHutchison and ST Telemedia haggled for days with Global Crossing's creditors, who soured on the bid first announced Jan. 28. The creditors committee, which includes Lucent Technologies Inc, Morgan Stanley Investment Management and Verizon Communications Inc., also has considered a plan that would let Global Crossing remain an independent entity. \nUnder that arrangement, the creditors would invest cash in exchange for ownership of the reorganized company. \nGlobal Crossing also is talking to other companies, which have until June 20 to make rival bids for the system of fiber-optic lines connecting 200 cities in 27 countries. A bankruptcy court ruled March 25 that a rival would have to pay US$30 million to scuttle the Asian companies' bid. \nHutchison and ST Telemedia said they will "keep all of their options open" as to whether to participate in future discussions.
Malaysian authorities have advised women to wear makeup, not to nag their husbands and speak with a cartoon character’s soothing voice during the virus lockdown, sparking a flood of mockery online. Like many countries, Malaysia has ordered all citizens to stay at home to stem the spread of COVID-19, which, as of yesterday, had killed at least 39,070 people globally. In a series of online posters with the hashtag #WomenPreventCOVID19, the Malaysian Ministry of Women and Family Development issued advice on how to avoid domestic conflicts during the partial lockdown, which began on March 18. One of the campaign posters depicted
Taiwan will negotiate with the WHO about its participation without Beijing’s help and intervention as more countries, including Australia and Japan, are partnering with Taiwan to curb the COVID-19 pandemic, the Ministry of Foreign Affairs said yesterday. US Secretary of State Mike Pompeo in a telephonic roundtable with reporters on Monday also supported Taiwan’s role in the WHO, saying the US Department of State would do its best to assist Taiwan’s “appropriate role” in the world’s highest health policy setting body, Voice of America reported. In a Japan Business Press report published on Sunday, Chinese Ambassador to Japan Kong Xuanyou (孔鉉佑) said
KEEP AWAY: People should wear a mask in places where they cannot follow social distancing rules, the CECC said, adding that it would publish detailed guidelines today The Central Epidemic Command Center (CECC) yesterday announced 16 new cases of COVID-19, including two domestic cases, as it urged people to practice social distancing in public spaces by keeping a distance of at least 1m when outdoors and 1.5m indoors. Minister of Health and Welfare Chen Shih-chung (陳時中), who heads the center, said that seven of the new cases tested positive upon their arrival at the airport, four were under home quarantine, one was under home isolation and two were under self-health management, while the two domestic cases sought treatment on their own. The domestic cases are a man in his
HELPING HAND: Taiwan is ready to help other nations and will not sit idly by while the global fight against the coronavirus continues, President Tsai Ing-wen said Taiwan, as a responsible member of the international community, is to offer humanitarian assistance to nations hardest hit by the COVID-19 pandemic by sending them masks and medicine, as well as sharing with them an electronic system that the government has been using to track down people that need to be quarantined, President Tsai Ing-wen (蔡英文) said yesterday. With the nation’s daily production having reached 13 million masks and soon to reach 15 million, the government is to donate 10 million masks to medical personnel in nations most severely affected by the coronavirus, Tsai said at the Presidential Office in Taipei. The