UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)(1)
FLAG Telecom Holdings Limited
(Name Of Issuer)
Common Shares, par value $0.0006 per share
(Title of Class of Securities)
G3529L102
(Cusip Number)
December 31, 2002
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
| | Rule 13d-1(b)
| | Rule 13d-1(c)
|X| Rule 13d-1(d)
----------
(1) The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("the Act") or otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Verizon Communications Inc. #23-2259884
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 2 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
GTE Corporation #13-1678633
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 3 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
GTE International Telecommunications Incorporated #06-1460807
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 4 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
GTE Venezuela Incorporated #13-3634506
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 5 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Bell Atlantic Latin America Holdings, Inc. #541679838
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 6 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Bell Atlantic New Holdings, Inc. #232726821
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 7 of 17 pages
-------------------
CUSIP NO. G3529L102 13G
-------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
SS. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Verizon International Holdings Ltd.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) | |
(b) |X|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
--------------------------------------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES 0 Common Shares
-----------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 0 Common Shares
-----------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 0 Common Shares
-----------------------------------------------------------------
PERSON 8 SHARED DISPOSITIVE POWER
WITH 0 Common Shares
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 Common Shares
--------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
| |
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0% OF THE AGGREGATE OF THE ISSUER'S COMMON SHARES, PAR VALUE $0.0006 PER
SHARE.
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
Page 8 of 17 pages
Item 1.
(a) Name of Issuer
FLAG Telecom Holdings Limited ("FLAG")
(b) Address of Issuer's Principal Executive Offices
Cedar House
41 Cedar Avenue
Hamilton HM12, Bermuda
Item 2.
(a) Name of Persons Filing
Verizon Communications Inc. ("Verizon")
GTE Corporation ("GTE")
GTE International Telecommunications Incorporated ("GTE
International")
GTE Venezuela Incorporated ("GTE Venezuela")
Bell Atlantic Latin America Holdings, Inc. ("BALAH")
Bell Atlantic New Holdings, Inc. ("BANHI")
Verizon International Holdings Ltd. ("VIHL")
(b) Address of Principal Business Office or, if none, Residence
For each of Verizon, GTE, GTE International and GTE Venezuela:
1095 Avenue of the Americas
New York, New York 10036
For each of BALAH and BANHI:
1310 North Court House Road
Arlington, Virginia 22201
For VIHL:
c/o AS&K Services Ltd.
Cedar House
41 Cedar Avenue
Hamilton HM12, Bermuda
(c) Citizenship
Each of Verizon, BANHI, BALAH, GTE Venezuela and GTE International
is incorporated under the laws of the State of Delaware.
Page 9 of 17 pages
GTE is incorporated under the laws of the State of New York.
VIHL is incorporated under the laws of Bermuda.
(d) Title of Class of Securities
Common Shares, par value $0.0006 per share
(e) Cusip Number
G3529L102
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check
whether the person filing is a:
(a) | | Broker or Dealer registered under Section 15 of the Exchange Act
(b) | | Bank as defined in Section 3(a)(6) of the Exchange Act
(c) | | Insurance Company as defined in Section 3(a)(19) of the Exchange Act
(d) | | Investment Company registered under Section 8 of the Investment
Company Act
(e) | | Investment Adviser in accordance with Rule 13d-1(b)(1)(ii)(E)
(f) | | Employee Benefit Plan or Endowment Fund in accordance with
13d-1(b)(1)(ii)(F)
(g) | | Parent Holding Company or Control Person in accordance with Rule
13d-1(b)(1)(ii)(G)
(h) | | Savings Association as defined in Section 3(b) of the Federal Deposit
Insurance Act
(i) | | Church Plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act
(j) | | Group, in accordance with Rule 13d-1(b)(1)(ii)(J)
Page 10 of 17 pages
Item 4. Ownership
(a) Amount Beneficially Owned:
0 Common Shares
(b) Percent of Class:
0% of the aggregate of the Issuer's Common Shares, par value $0.0006 per
share.
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
(ii) shared power to vote or to direct the vote: 0
(iii) sole power to dispose or to direct the disposition of: 0
(iv) shared power to dispose or to direct the disposition of: 0
As of October 9, 2002, all of the Common Shares of FLAG previously owned of
record and beneficially by VIHL were cancelled as a result of the consummation
of the transactions contemplated by the Plan of Reorganization of FLAG which
became effective on that date (the "Plan of Reorganization"). BANHI owns 95.6%
of the equity of VIHL. BALAH owns 100% of the equity of BANHI. GTE Venezuela
owns 100% of the equity of BALAH. GTE International owns 100% of the equity of
GTE Venezuela. GTE owns approximately 68% of the equity of GTE International.
Verizon owns 100% of the common stock of GTE. By virtue of the relationships
among such companies, each of them may be deemed to have had shared power to
vote and dispose of, or to direct the vote and disposition of, the 24,922,276
Common Shares of FLAG previously held of record by VIHL. As a result of the
cancellation of the Common Shares of FLAG pursuant to the Plan of
Reorganization, none of the reporting persons has any power to vote and dispose
of, or to direct the vote and disposition of, any Common Shares of FLAG.
Item 5. Ownership of Five Percent or Less of a Class:
This statement is being filed to report the fact that as of the date
hereof the reporting persons have ceased to be the beneficial owners of more
than five percent of the Common Shares of FLAG.
Item 6. Ownership of More Than Five Percent on Behalf of Another Person:
Not Applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported On by the Parent Holding Company:
See Item 4.
Page 11 of 17 pages
Item 8. Identification and Classification of Members of the Group:
Not Applicable.
Page 12 of 17 pages
Item 9. Notice of Dissolution of Group:
Not Applicable.
Item 10. Certifications:
Not Applicable.
Page 13 of 17 pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 12, 2003
----------------------------------------
VERIZON COMMUNICATIONS INC.
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
GTE CORPORATION
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
GTE INTERNATIONAL
TELECOMMUNICATIONS INCORPORATED
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
Page 14 of 17 pages
GTE VENEZUELA INCORPORATED
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
BELL ATLANTIC LATIN AMERICA
HOLDINGS, INC.
/s/ Christopher M. Bennett
----------------------------------------
Signature
Christopher M. Bennett- Vice President
----------------------------------------
Name/Title
BELL ATLANTIC NEW HOLDINGS, INC.
/s/ Mary Louise Weber
----------------------------------------
Signature
Mary Louise Weber - Secretary
-----------------------------
Name/Title
VERIZON INTERNATIONAL HOLDINGS
LTD.
/s/ Mary Louise Weber
----------------------------------------
Signature
Mary Louise Weber - Assistant Secretary
---------------------------------------
Name/Title
Page 15 of 17 pages
EXHIBIT A
AGREEMENT AS TO JOINT FILING OF
SCHEDULE 13G
In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
the persons named below agree to the joint filing on behalf of each of them of a
Statement on Schedule 13G (including amendments thereto) with respect to the
Common Shares of FLAG Telecom Holdings Limited and further agree that this Joint
Filing Agreement be included as an Exhibit to such joint filings. In evidence
thereof, the undersigned hereby execute this Agreement as of the 13th day of
February, 2002.
VERIZON COMMUNICATIONS INC.
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
GTE CORPORATION
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
GTE INTERNATIONAL
TELECOMMUNICATIONS INCORPORATED
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
Page 16 of 17 pages
GTE VENEZUELA INCORPORATED
/s/ Marianne Drost
----------------------------------------
Signature
Marianne Drost - Corporate Secretary
------------------------------------
Name/Title
BELL ATLANTIC LATIN AMERICA
HOLDINGS, INC.
/s/ Stephen B. Heimann
----------------------------------------
Signature
Stephen B. Heimann - Assistant Secretary
----------------------------------------
Name/Title
BELL ATLANTIC NEW HOLDINGS, INC.
/s/ Mary Louise Weber
----------------------------------------
Signature
Mary Louise Weber - Secretary
-----------------------------
Name/Title
VERIZON INTERNATIONAL HOLDINGS
LTD.
/s/ Mary Louise Weber
----------------------------------------
Signature
Mary Louise Weber - Assistant Secretary
---------------------------------------
Name/Title
Page 17 of 17 pages