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Technology Stocks : Viatel (VYTL)

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To: debra vogt who wrote (135)	2/8/2000 12:10:00 PM
From: debra vogt	Read Replies (1) of 157

Viatel ups stake in Sonic Telecom NEW YORK, Feb 3 (Reuters) - Global telecommunications services provider Viatel Inc. (NASDAQ: VYTL) said on Thursday it upped its equity stake in privately held Sonic Telecom, which leases out space on its high-speed communications network. Viatel now owns 16 percent of Sonic, Sonic said in a statement. A representative at Viatel was not immediately available to comment on how big of a stake Viatel previously held. "We at Viatel believe in Sonic Telecom's service concept of 'bandwidth on-demand' and 'by the byte' and will continue to support the company via our equity investment and access to bandwidth on Viatel's broadband network," Viatel Chief Executive Michael Mahoney said in a statement. Shares of Viatel were up 1-3/16 at 45-7/8 in morning trading on the Nasdaq stock market. Viatel also said that Sonic has signed up News Corp's Fox News as a customer.

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