Deutsche Telekom, which has said it_s looking to make an acquisition in the United States, held talks to buy Global Crossing.

The talks between Germany_s largest telephone company and Global Crossing, owner of a worldwide data and phone network, took place several weeks ago, the person said. No further meetings are scheduled at this time, a Global Crossing executive said. Global Crossing would give Deutsche Telekom, led by chief executive Ron Sommer, a global undersea fiber-optic network as increased competition in Germany has cut profit. The German firm has been looking for acquisitions in Europe and the United States since losing the battle for Telecom Italia, Italy_s biggest phone company, to Olivetti last year. Deutsche Telekom shares have climbed as much as 21 percent in Germany since Tuesday. Today, they_re up 4.27 euros ($4.12), or 4.3 percent, at a record of 103.65 ($100). Global Crossing, with a market value of about $44 billion, rose $3.44, or about 7 percent, to $54.38, after climbing as high as $60. The German company has made bids totaling $80 billion for U.S. carriers Qwest Communications International and US West, USA Today reported yesterday. Deutsche Telekom_s bids have caused a rift between the two U.S. companies, threatening their merger, the Wall Street Journal reported today. Still, any new agreement likely won_t happen for a month, the paper reported. Deutsche Telekom declined to comment, and Global Crossing wouldn_t comment further. US West and Qwest declined to comment on the USA Today report.