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Technology Stocks : (LVLT) - Level 3 Communications -- Ignore unavailable to you. Want to Upgrade?

To: Baudwalker who wrote (1076)	6/20/1998 2:22:00 PM
From: Caxton Rhodes	Read Replies (1) \| Respond to of 3873

Level 3 Gears Up to Deliver on IP Promise By Sheridan Nye 19-JUN-98 Level 3 Communications appointed its prime investor, Peter Kiewit Sons' Inc., to build the US's first dedicated IP network, dubbed 'Blank Sheet'. At a total cost of around $2 billion, the 15,000 miles of fiber will interconnect with Level 3's local networks currently under construction in 15 cities across the country. Level 3's declared aim is to provide end-to-end IP services to businesses in the US with planned international expansion to Europe and Asia. The company said construction of its long distance network will begin immediately, with a completion deadline of first quarter 2001. Kiewit, one of the US's largest construction firms, is backing Level 3 to the tune of $3 billion. The company is the former holding company of MFS and the former employer of many Level 3 executives, including president and ceo, James Crowe. Kiewit also built networks for MFS before the MAN-specialist became a subsidiary of WorldCom in 1996 for $14.3 billion. Crowe has made no secret of Level 3's mission to undercut telcos in local and long distance markets, promising services at 1/27 of that offered by switched-circuit networks. The company it is also taking a aggressive stance on network roll-out, laying six to eight spare conduits along the fiber route to allow for expected expansion. Level 3 aims to connect 60 cities within three years and has cleared rights of way with the Union Pacific Railroad Co. for 7,800 miles of rail routes mainly west of the Mississippi River.