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article imageReview: A silent takeover of U.S Telecom industry by the Libyan Post?

By Anthony Carranza     Jun 18, 2014 in Internet
Cyber security continues to proliferate at a time where new technologies are increasingly more pervasive and protecting data from potential breaches a new uphill battle.
The Federal Communications Commission (FCC) has its hands full at the present time urging providers to beef up security and in the process dealing with a potential national security concern. According to an anonymous source, concerns have been raised about the possible acquisition of Fibergate, which services a great number of United States (U.S) government agencies for high speed data transfer.
Fibergate, the Alexandria-based fiber-optics communication services company, serves not just corporate companies but important government branches in the metropolitan area of Washington D.C. In the event of having a majority of the shares or stake in the company would not just comprise security, but allow easier access to U.S intelligence data.
Diplomatic relations between Libya and the U.S have a robust and complicated history. The first diplomatic relations date back to 1951 followed by a coup de d’état by former leader Mu’ammar al-Qadhafi in 1969. In 2011, an uprising took place that eventually led to the demise, fall and the death of the leader who once ruled with an iron fist.
Pressure is mounting for the U.S to maintain control across the globe, but climate change is posing an incalculable security threat. Scarcity of natural resources in several regions of the world along with extreme shifting of weather or climate events have become a catalyst for political global conflicts, according to a New York Times report.
With net neutrality rules in a fickle at the present time in the United States another development to keep an eye out for is the intervention of Italian-based Retelit SpA (LIT). Worries have risen since the group recently was able establish its headquarters in Colorado. According to post “Retelit’s main shareholder is the Libyan Post-the telecommunications and information technology (IT) company.
The scenario of such an outcome would radically put power in the hands of the institutions that may seem otherwise innocuous. So what is this framework entirely about? You have a Libyan-owned Retelit who may have significant oversight of the U.S telecommunications market and its federally attached agencies that rely heavily on Fibergate.
In a nutshell, the stakes and the balance of power must be carefully examined given the implications and the synergies of the groups involved. The FCC will have to run an inquiry and investigate thoroughly. Furthermore, federal agencies can cross-examine the parties trying to go unnoticed.
Foreign investment remains an integral part of the American economy, so foreign countries want to develop commercial ties naturally. Foreign direct investment (FDI) is 16 percent of the U.S gross domestic product (GDP), which is equivalent to $2.7 trillion. However, the U.S slice of the global FDI stock was 17 percent in 2012 that is far less in comparison to 37 percent at the start of the 21st century, according to the 2013 Foreign Direct Investment in the U.S Report.
In that report one can find the top ten FDI countries and their inflow of capital invested. They are: Netherlands, France, United Kingdom (U.K), Japan, Canada, Belgium, U.K Islands Caribbean, Luxembourg, South Korea and Hungary.
Taking into consideration all of these aspects, the U.S with its federal entities must not allocate national security into the wrong hands. The right organization, group, company or affiliate has to be responsible for safeguarding information and should not be outsourced under no circumstances.
More about Federal communications commission, libyan post, retelit, Telecom, fibergate
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