Meganet GmbH in Cologne is ready to provide speech telephony services to corporate customers. Keeping the business firmly in the family, Meganet, itself a subsidiary of Vebacom AG, which is a subsidiary of energy conglomerate Veba AG, has announced its first speech telephony customers are none other than the 20 companies that are a part of Veba. Meganet, which began with data transmission services, already serves a corporate customer base of more than 270 of Germany’s top 500 companies. It said it expects to cut it speech telephony costs by at least 10% by switching to Meganet’s corporate network. Meganet manages an Asynchronous Transfer Mode network that has 660 nodes. Services are available throughout Germany and concentrate specifically on 160 key cities. The speech network now covers 120 cities. There are also plans to hook up to Cable & Wireless Plc’s worldwide network by the end of 1995. Cable & Wireless is a partner in Vebacom which will enable Meganet to break out beyond Germany’s borders and on to the global marketplace. Vebacom plans to invest $4,012m in telecommunications in the next few years.