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February 16, 1999


By CBR Staff Writer

Global TeleSystems Group Inc, (GTS) has announced a $19.5m investment in European ISPs. It has bought outright DataNet and NetForce, major players in the Hungarian and Czech ISP market, and recently acquired significant stakes in PolandÆs number one and two independent ISPs, ATOM and Internet Technologies. These purchases follow the strategic acquisition of internet backbone provider Ebone, to which GTSÆs new companies will now have access. GTS also announced Tuesday fourth quarter net losses of $51.7m or $0.84 a share, on revenues up 375% at $80.2m. This exceeded First Call estimates of $0.49 a share. Its 1998 net losses to December 31 were $152.6m on revenues that rose 319% to $197.5m.

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