One telecommunications provider reckons it has avoided the fate of Global Crossing. SAVVIS Communications, a global network service provider which lists Royal Bank of Scotland, Reuters and Garband among its clients, has secured equity financing of $158 million to reduce its debts and other liabilities. “At a time that is seeing many of its competitors in the telecoms industry file for bankruptcy having not been able to find financing, this is certainly good news not only for Savvis but for financial institutions,” says the company.
Not Global Crossing: Savvis Saved With Cash Injection
One telecommunications provider reckons it has avoided the fate of Global Crossing. SAVVIS Communications, a global network service provider which lists Royal Bank of Scotland, Reuters and Garband among its clients, has secured equity financing of $158 million to reduce