<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-----------
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported): 30 October 2000
FLAG Telecom Holdings Limited
-----------------------------------------
(Exact name of registrant as specified in its charter)
Bermuda 000-29207 N/A
------------------------------- ------------------------ --------------------
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation) Identification
Number)
Cedar House, 41 Cedar Avenue, Hamilton HM12, Bermuda
---------------------------------------------------------
(Address of principal executive offices) (Zip Code)
(441) 296-0909
---------------------------------------------------------
(Registrants' telephone number, including area code)
N/A
---------------------------------------------------------
(former name or former address, if changed since last report)
<PAGE>
ITEM 5. OTHER EVENTS.
On 31 October 2000, FLAG Telecom Holdings Limited (the
"Company") issued a press release announcing that FLAG Atlantic Holdings Limited
("FLAG"), a subsidiary of the Company, entered into a Share Purchase Agreement
(the "Agreement") with GTS TransAtlantic Holdings, Ltd. ("GTS") under which FLAG
agreed to purchase the 50% interest held by GTS in FLAG Atlantic Limited. The
purchase is subject to fulfillment of various condition precedent, including the
approval of the Federal Communication Commission.
This press release is filed as an exhibit to and incorporated
by reference into this Form 8-K.
Any Internet addresses provided in this release are for
information purposes only and are not intended to be hyperlinks. Accordingly, no
information in any of these Internet addresses is included herein.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
EXHIBIT
NO. DESCRIPTION
---------- -------------
99.1 Press Release dated 31 October 2000 of the Company.
2
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FLAG TELECOM HOLDINGS LIMITED
By: /s/ Stuart Rubin
------------------------------
Stuart Rubin
GENERAL COUNSEL AND
SECRETARY
Dated: 3 November 2000
3
<PAGE>
EXHIBIT INDEX
EXHIBIT
NO. DESCRIPTION
-------- --------------
99.1 Press Release dated 31 October 2000 of FLAG Telecom Holdings
Limited
4
