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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (6266)	5/24/2000 6:02:00 AM
From: Teddy	Respond to of 15615

boring news: Swedish Telia and Global Crossing Swap Networks Worth SK900 Mln 5/24/00 2:14:00 AM Source: Bloomberg News Stockholm, May 24 (Bloomberg) -- Telia AB, Sweden's biggest phone company, said it swapped assets worth 900 million kronor ($97.8 million) with Global Crossing Ltd., owner of a worldwide data and telephone network, as both companies seek to extend their European reach with fiber-optic networks. Telia, which plans to sell shares on the Stockholm exchange in June, will get access to Global Crossing's fiber-optic network between Hamburg and Padborg, via Amsterdam and Dusseldorf. Global Crossing gets access to Telia's Scandinavian network from Copenhagen to Oslo via Stockholm. The Stockholm-based company, with 71,340 kilometers of fiber- optic cable stretching from Europe to the U.S., aims to be one of the world's three largest carrier of Internet traffic between the two continents. Fiber-optic cables are designed to transfer data 30 times faster than today's modems. ''Our agreement with Telia means that our customers in the Nordic countries will have optimum access to bandwidth, voice and Internet services,'' said Wim Huisman, chief executive at Global Crossing Europe.