30 June 2003 Madrid--LambdaNet Spain, the independent operating subsidiary of European network services provider, LambdaNet Communications, is to reduce the network footprint of its largest customer in Spain, Iberbanda.
LambdaNet says the deal will enable Iberbanda to operate more efficiently following recent changes in customer demand.
The agreement is in line with LambdaNet's policy to keep operational costs to a minimum and runs parallel with existing streamlining activity by LambdaNet in Spain. It marks an important milestone in current restructuring discussions with LNG Holdings S.A. and RENFE, the two principal creditors of LambdaNet Spain.
"Given this agreement with Iberbanda, and in light of the current discussions with RENFE, we believe we are on track to complete the restructuring of our Spanish business and emerge with a strong presence in the Iberian market," said Bernie Smedley, CEO of LNG Holdings S.A., the parent company of LambdaNet Spain.
The commercial agreement is strictly between LambdaNet Spain and Iberbanda and does not affect the LambdaNet networks in Germany or France. All subsidiaries and their respective networks are managed as independent businesses.
LNG Holdings SA
LNG Holdings S.A. has its headquarters in Luxembourg. The company ï¿½ including its Hannover-based LambdaNet Group ï¿½ employs approximately 250 people in Europe, with the majority of employees in Germany, France and Spain.
Connecting key European data centres and more than 100 cities in 11 countries, LambdaNet's 22,000-km fibre and IP network is one of the most powerful and closely woven networks in Europe, servicing more than 230 customers.
Its European customer base is stable, serving a broad range of telecommunications operators (telcos, voice/access, mobile, ISP, ASP and CATV) including Vodafone D2, Cable & Wireless and Telia within Europe and into the East Coast of the USA.
Additionally, LambdaNet operates Metropolitan Area Networks (MANs) in fifteen European centers of business ï¿½ London, Amsterdam, Brussels, Paris, Marseille, Bordeaux, Strasburg, Lyon, Madrid, Vienna, Copenhagen, Frankfurt, Dusseldorf, Munich and Hamburg.
LambdaNet Group offers traditional transport services (wavelength, bandwidth and co-location services) and delivers higher value services that include advanced IP transport (IP Transit, Virtual Private Networks).
For more information, visit www.lambdanet.net
Iberbanda provides businesses with high-speed internet access, hosting, telephony and data transmission services through a telecommunications network deployed in the major towns throughout Spain.
Iberbanda's internet access and data transmission services (RVP IP, Frame Relay, Dedicated Lines) enable symmetrical, permanent, dedicated and up to 100% guaranteed high-volume data transfer.
For more information, visit www.iberbanda.es