1204004 Informal Interpretation

Date:
Rule:
802.50
Staff:
Michael Verne
Response/Comments:

- The US portion of the asset in the US terminus and the portion of the cable with US territorial waters (12 nautical miles)

Question

From:

(redacted)

Sent:

Friday, April 13, 2012 12:53 PM

To:

Verne, B. Michael; Walsh, Kathryn

Subject:

Undersea Cable - US asset?

Hi -I am looking at a transaction where the target owns an undersea telecom cable which goes from Europe to NYC. I didn't see anything in the interpretations that sheds any light on (a) whether that could be considered a US asset or not and (b) if it is a US asset, how much of the cable would be deemed to be a US asset. It seems to me that the cable should not be a US asset because it is not actually in the US, being that it is in the ocean, but that the terminus in NYC, which is on land, would constitute a US asset. I would be grateful for your thoughts.

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Informal interpretations provide guidance from previous staff interpretations on the applicability of the HSR rules to specific fact situations. You should not rely on them as a substitute for reading the Act and the Rules themselves. These materials do not, and are not intended to, constitute legal advice.

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