GTT Balks on Acquiring GCI

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GTT Balks on Acquiring GCI

Global Telecom & Technology, Inc., the acquirer of WBS Connect, announced today that it suspended its efforts to acquire certain customer assets from Global Capacity, Inc. Read the press release.

According to the release, "On January 5, 2010, GTT announced that it had reached an agreement to acquire these assets from Global Capacity. The asset purchase agreement, valid until April 30, 2010, was contingent on Global Capacity's ability to secure the required customer, supplier, FCC and debt holder consents. Global Capacity was not able to secure the required consents, and the asset purchase agreement expired on April 30, 2010."

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