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Pangea Launches Nordic Network

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BERMUDA -- The communications company, Pangea Ltd., was launched with the unique goal of becoming the leading provider of broadband network services in Northern Europe, Scandinavia and the Baltic Region. The company provides high capacity voice, data, video and Internet transmission to other communications companies servicing Northern Europe and Scandinavia – a region traditionally neglected by the major network providers for Western Europe. Unlike other operators, Pangea’s network will go live simultaneously, eliminating lengthy rollout times. With the set RFS date of December 2000, Pangea will initially focus on delivering services to the wholesale market. Pangea’s state-of-the-art network will span over 11,500 kilometres covering London, Amsterdam, Brussels, Paris, Dusseldorf, Frankfurt, Munich, Berlin, Hamburg, Copenhagen, Malmo, Stockholm, Gothenburg, Oslo, Helsinki and Tallin – with a connection to New York.

Pangea has invested $450 million in the terrestrial and undersea fibre-optic cable system linking key business centers in the North Sea and the Baltic Sea regions. The company is funded by a group of US based venture firms and investments banks including Morgan Stanley Dean Witter, Columbia Capital and Dolphin Communications.

“Our goal is to become the key alternative provider in one of the fastest growing but under-serviced sectors of the European marketplace – the North Sea and Baltic region. With major investments in place and our network roll-out plans well advanced, we believe we are on the way to achieving this. In addition, our management team has nearly 200 years combined experience in building, operating and using the world’s largest submarine and terrestrial systems. And our strategic partnerships with Nortel and Alcatel have provided us with the very latest state-of-the-art network equipment,” comments Larry Codacovi, CEO and President at Pangea Ltd.


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