The Company plans to construct, in business districts with high business density, a fiber optic telecommunications network using synchronous digital hierarchy transmission technology. The Company's network currently connects Madrid, Barcelona, Valencia, Sevilla, Bilbao, Zaragoza, Malaga and Murcia and, the Company has begun developing its own local networks in these and other cities. Revenues reflect the launch of indirect access service in Spain and Portugal and a higher number of customers and lines in service.
Net loss reflects an increased interest expense.
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