Chief Administrative Officer and General Counsel, commented: "As we previously outlined, these voluntary proceedings are being taken to effectuate the share purchase agreement with KPNQwest.
Amman added: "Our discussions with the holders of all of the public debt and preferred securities of GTS
Europe BV are progressing as planned.
also announced that Deutsche Bank, Dresdner Bank and Bank of America (the "Bank Group), which are providing financing to GTS
' Global TeleSystems Europe Holdings B.
On November 13, 2000, GTS
announced that it was restructuring all of its operations to focus on the company's core competency of providing broadband data services to carriers, ISPs, ASPs, Web-centric entities and pan-European corporations.
Pair of the GTS
Pan-european Network, a 10-Times Capacity Increase
Hosting Centers, each having approximately 50,000 square feet, will open in Amsterdam, Frankfurt and Paris in July 2000.
is committed to extending its European Internet service leadership to include toll quality, single-platform Internet services such as VoIP, a market that Datamonitor estimates will generate nearly $1 billion in industry revenues for national and international calls by 20021.
Brian Thompson, GTS
chairman and chief executive officer, commented on the strategic importance of Nemirovsky's appointment: "The addition of Paul's proven leadership and success in the IP and Web hosting arenas accelerates the implementation of our integrated IP strategy.
and chello exploring relationship to conduct joint R&D to
operates the first and currently most extensive trans-European broadband fiber network, with network points of presence in 24 European cities and stretching across more than 15,000 route kilometers.
This fiber pair, when lit at full capacity based on current technology, will provide GTS
with seamless connectivity of 400 Gbps of fully protected capacity (or 800 Gbps of unprotected capacity) linking New York with GTS
's trans-European fiber network.
The network will enable GTS
to offer its customers--which include leading international carriers, Internet service providers, broadcasters and other "web-centric" organizations--nearly instantaneous upgrades while maintaining a rigorous policy of zero IP congestion.