TyCom, Global Crossing Settle Network Claims
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TyCom Ltd., the biggest maker of undersea fiber-optic cable, and Global Crossing Ltd. settled all claims related to the construction and operation of part of Global Crossing’s phone and data network.
The companies didn’t disclose the terms of the settlement. Last year, Global Crossing sued TyCom’s parent, Tyco International Ltd., for at least $1 billion, claiming the unit shared confidential information with a rival.
TyCom, once Global’s main supplier, has become a rival as it builds its own undersea network.
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