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Thanks to the Global Telecoms Business top five stories daily newsletter for highlighting this interesting memo from Equant, the majority owned international arm of France Telecom. Apparently Equant has a high burn rate, has made significant losses and lost almost half its market capitalisation.

Reminds me of the telecoms bust of 2000/2001 with Exodus, WorldCom, PSINet, RSL COM and Global Crossing. Paul Durman of the Sunday Times wrote an interesting comment piece about the memo Happy New Year from the boss – you’re about to get fired.

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