AOL Time Warner planning rapid expansion in Europe

AOL Time Warner has announced plans for rapid expansion in Europe.

The US internet and media company seeks to raise its international revenues from 17 to 50% over the next decade.

Steve Case, chairman, and Jerry Levin, chief executive, says the company expects to make a number of strategic investments in Europe this year.

It also plans substantial acquisitions in the medium term.

"There is a trend towards globalisation of the company," he said.

"Ten years from now we will not be a US company with some European and Asian operations, but a global company," Mr Case said during a visit to London to meet investors.

The top executives at the world's largest media company say they expect to make investments in the next few months that will illustrate their determination to grow in Europe.