NEW YORK (Bloomberg) - Bermuda-based Global Crossing Ltd., the Internet-based telecommunications company that's grown through three acquisitions since 2006, plans to hold on to its cash "for the time being", chief executive officer John Legere said.

"We will probably be comfortable for the time being just having that cash sit on the balance sheet for an extra pad," Legere said when asked if the company planned additional acquisitions this year.

"We're comfortable we have enough cash to grow the business but we're not on the verge of having so much cash that we need to figure out what to do with it," Legere said in an interview from the company's main office in Florham Park, New Jersey, yesterday.

Global Crossing emerged in 2003 from what was the fourth-largest bankruptcy by assets at the time. As of December 31, the company had $360 million in cash and equivalents and $1.15 billion in long-term debt.

Free cash-flow, defined by the company as net cash from operations less purchases of property and equipment, will reach $50 million to $100 million this year, Global Crossing said on February 16.

Unfavourable foreign exchange effects are likely to reduce revenue to $2.5 billion to $2.6 billion this year, compared with $2.59 billion in 2008, the company said. Analysts predict $2.59 billion for 2009, the average of four estimates compiled by Bloomberg.