AMSTERDAM, The Netherlands, April 13 -- KPNQwest announced the finalization of a joint venture between KPN, the Dutch telecommunications company, and Qwest Communications International Inc. of Denver. The venture currently provides Internet Protocol-based, fiber-optic broadband network services over 2,100 miles (3,500 km) in Europe, and is building a pan-European network to cover 9,100 miles (14,640 km) and connect 40 major cities.
KPNQwest expects to raise $800 million (US) of debt to finish constructing the EuroRings fiber-optic network. Two of the six state-of-the-art self-healing rings are nearing completion; the anticipated additional financing will support the construction of the final four rings. The expanded network should be complete in 2001.