2001: Networks Companies Faced Financial Stress
NETWORKS AND INFRASTRUCTURE
LONDON--Integrated telecommunications networks in the financial markets arena have not had an easy year. Network companies, from the largest to the smallest, have had to struggle between ever-increasing expenditures needed for global network expansion and the shrinking IT budgets of their customer base.
Global Crossing was the prime example, posting net losses of $3.3 billion for the third quarter. The vendor has had a rough time of it, with its share price falling to just over $1.00 after
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