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French rival France Telecom fell 0.8%, in Paris, while Deutsche Telekom was down 0.3%, in Frankfurt.
Verizon's investment in non-wireless telecom fell to $1.3 billion, down over 60% from the $3.3 billion it spent in the first quarter of 2001.
France Telecom fell 2.1%, or 44 euro cents (57 cents), to 20.93 euros ($27.03) in Monday afternoon trading in Paris Spainn's Telefonica slipped 0.5%, or 8 euro cents, to 16.57 euros ($21.40); and Britain's BT Group fell 2.3%, or $1.40 cents, to $58.99 in pre-market trading in New York.
Similar(56)
And for much of the late 1990s and early years of this century, the gradual rolling back of regulatory controls on prices seemed to work in the national interest: prices for power (and telecoms) fell; customer service improved.
Telecom companies fell after Singapore Telecom reported a lower than expected profit.
The average telecom fund fell 28.09 percent in the quarter and 34.25 percent for the year.
"As the telecom industry fell into disarray," he said, "the pharmaceutical industry has sort of taken over as the driving force for the economy".
Shares of the world's No. 1 telecom equipper fell 9%.
In the fourth quarter alone, sales in Corning's telecom unit fell 65% to $543 million.
Denver's housing sector dropped early because the telecom industry fell apart.
This sparked an increase in copper production, but that quickly left the market flooded when the telecom industry fell into a rut.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com