GTS Buys Out Final Railway Partner of Network Subsidiary

Global TeleSystems Group Inc. (GTS; Washington, DC) has purchased Belgian railway NMBS/SNCB's interest in Hermes Europe Railtel. The sale buys out the last of the original partners in that fiber optic network venture. Pursuant to the agreement, which was closed last week, NMBS/SNCB converted its 6.8% Hermes Europe Railtel shareholding into GTS shares.

GTS's trans-European network is the most extensive cross-border broadband fiber network in Europe, with 13,200-route km of operational fiber and points of presence (PoPs) in 23 cities in 10 European countries. GTS plans to extend this to 25,000-route km and 50 cities by the end of calendar year 2000.