Tyco to sell fiber network

Tyco has decided to sell its global fiber optic network, an expensive exercise undertaken during the Kozlowski era. Apparently it was a way to piss off Global Crossing head honcho Gary Winnick. Anyway it was a dark hole for the company, a major money loser for Tyco.  Given the glut of capacity still out there in the long-haul space, Tyco decided to cut its losses and sell the network.  Tyco does intend to keep its undersea fiber optic construction and maintenance business, though. Total charge, $664 million. Dennis the Menace still hangs around in the halls of Tyco like a bad cousin. This is yet another low cost operator in the making and it means more supply in the market. Or as I like to say, the dominoes are falling.