Viatel Announces Realignment

NEW YORK -- Viatel, Inc. (Nasdaq: VYTL) today announced that, going-forward, the Company will focus principally on its high-growth, higher-margin Corporate and Broadband business segments, and will conclude its provision of consumer voice services in countries that do not meet long-term corporate objectives. Viatel’s actions represent a logical evolution of the Company as it completes the three-year build-out of its network.

“By streamlining operations and concentrating principally on the pan-European communications needs of major corporations and carriers, Viatel will immediately strengthen its current financial profile and improve its EBITDA,” said Michael J. Mahoney, Viatel’s Chairman and Chief Executive Officer. “Most importantly, however, this plan will allow Viatel to continue growing a sustainable business that will maximize value for our shareholders.”

http://www.viatel.com