Hutchison sets deal date

Hutchison Whampoa said the delay by Global Crossing in filing its annual report would not have an impact on its schedule to reach a definitive takeover agreement late next month. Hutchison is bidding with Singapore Technologies Telemedia. The undersea cable operator said its financial report would be delayed until an investigation of its accounting practices by the United States Securities and Exchange Commission was finished. Its auditor Andersen also said it would be unable to deliver an audit report.