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Metromedia Fiber Network, Inc. (NASDAQ:MFNX), New York, has announced the next eleven markets in its current European expansion, bringing its planned high-density fiber optic networks to five new countries and a total of 16 major markets. The eleven markets include Paris, Brussels, Hamburg, Dusseldorf, Munich, Berlin, Hanover, Vienna, Zurich, Geneva, and Milan. Metromedia Fiber Network's planned infrastructure will extend its reach to major European metropolitan areas, enabling telecommunications carriers and enterprise organizations to gain high-bandwidth "last mile" communications connectivity throughout major European commercial centers.
According to various estimates, Europe's telecommunications market is currently a $300 billion industry and is expected to double by the year 2002. As the projected need for fiber optic capacity within European cities increases significantly during this period, Metromedia Fiber Network will supply these cities the "last mile" infrastructure needed to take advantage of advanced, high-bandwidth services.
"The enormous growth of data transmissions, mobile phones and other forms of telecom traffic in Europe is creating a substantial bottleneck in the local metropolitan...