WorldCom Awarded License To Build And Operate A Fiber Optic Network In Zurich"
Zurich will have high speed connectivity with financial centers
world-wide over WorldCom's own facilities-based global
platform.
Zurich, Switzerland - July 28, 1997 - WorldCom, Inc. (WorldCom)
announced today that its Swiss operating company has received a license
from the Federal Office for Communications (BAKOM) to build and operate
an alternative telecommunication network in the city of Zurich. The
license entitles WorldCom to construct or use existing public
facilities to build its high speed, SDH fiber network and comes in
advance of full Swiss telecommunication deregulation, which is
anticipated on January 1, 1998. WorldCom already holds a license to
operate public telecommunications services in Switzerland and has been
offering non-facilities based international voice and data service in
Zurich since January 1996. WorldCom has a contract to install its ducts
and cables in the rights of way of Zurich's electrical utility
company. These facilities provide WorldCom with access to 80 percent of
its intended route, thus enabling the network to be ready for service
more quickly. WorldCom will have full access to public facilities for
installation and maintenance, such as when a new customer site is
linked to the network. Construction of the network is scheduled to
begin in mid-September. "Zurich is a recognized center of
international finance that represents one of WorldCom's core
markets, said Colin Williams, president and CEO of WorldCom
International. "Customers in banking and institutional finance
have been asking us when WorldCom would have a network in Zurich, and
we are happy to say that this license will enable us to meet this
demand."
WorldCom is a global business telecommunications company. Operating
in more than 50 countries, the company is a premier provider of
facilities-based and fully integrated local, long distance,
international and Internet services. WorldCom's subsidiary, UUNET
Technologies, Inc., is the world's largest provider of Internet
services. WorldCom's World Wide Web address is
http://www.wcom.com
. The common and depositary shares of WorldCom trade on the Nasdaq
National Market (U.S.) under the symbol WCOM and WCOMP,
respectively.