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

To: kamo who wrote (250)	3/2/1999 11:09:00 AM
From: MangoBoy	Read Replies (4) \| Respond to of 15615

[Equant in US$100 mln network investment] SINGAPORE, March 2 (Reuters) - Network operator Equant (NYSE:ENT) said on Tuesday it would launch a US$100 million infrastructure investment programme in 1999. Equant said in a statement that as part of the $100 million programme, it was buying an STM1 circuit between New York and Amsterdam from Global Crossing Ltd to increase its trans-Atlantic capacity. The statement did not give the cost of the purchase. It said Equant had also initiated the purchase of a European backbone network with routes between Germany, France, the Netherlands and the United Kingdom. Equant said its $100 million investment was to ''increase its worldwide network bandwidth this year, paving the way for future data service announcements'' across its 220-country network. ''Our strategy is to offer managed services and IP (Internet Protocol) leadership in more key business centres around the world than any other alliance or company,'' Andrew Bond-Webster, president of Equant's network services division in the Asia Pacific, was quoted as saying in the statement. ''The region has seen a significant increase in traffic over the last year, and we anticipate that Equant will continue to play a key role in the provision of high-speed data services, such as frame relay and IP to customers in Asia,'' he said.