Telia AB, Sweden's largest telecommunications carrier, today announced plans to spend 5 billion krona (US$613 million) over the next two years to expand its network capacity in Europe and the U.S.
When the planned two-year expansion is completed, the total amount of Telia-owned fiber-optic cable connecting major cities on the European continent will reach more than 10,000 kilometers, the company said in a statement. The U.S. expansion, however, will be done by buying capacity from other network owners, Telia added.
Telia's aim is to own a network stretching from San Francisco to the Black Sea, and become one of the leading network operators in the new, deregulated telecommunications arena, the company said.
The move comes as Telia, the country's incumbent telecommunications carrier, on September 11 will have to open up its fixed-line network in Sweden to a number of domestic competitors.
Telia, in Stockholm, Sweden, can be reached on the Web at http://www.telia.se.