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Energis has paid £60 million for a slice of the European telco network as part of its "entry strategy into Europe". The National Grid progeny said the acquisition of the entire share capital of the Unisource Carrier Services (UCS) group of companies from Unisource NV was part of its bid to gain a foothold in the emerging pan-European telco market. Zurich-based UCS operates an ATM telecommunications network and has licences in 12 countries, national interconnect agreements in seven countries and 13 points of presence in 11 major western European countries and in the US. It provides international wholesale voice services, managed bandwidth and Internet services and has more than 70 customers. Mike Grabiner, CEO of Energis, said: "Unisource Carrier Services is a key strategic move for Energis. "It provides us with a Pan European network, which gives Energis direct access to the fast growing, fast changing European market." ®

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