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News | 10/22/2001 4:00 am EDT

360networks loses US$5 billion in six months
Troubled fibre giant 360networks Inc. reported a loss of US$5.1 billion for the first half of 2001, compared with US$149 million a year earlier. The company is under creditor protection in North America and is in the process of starting insolvency proceedings for divisions in Asia and Europe.

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