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"It's surprising to [carriers] that were starting to see bandwidth growth in a way that we maybe didnt predict," says John Roese, chief technology officer for Nortel, whose telecommunications gear company stands to gain from network upgrades.
"The Bell CEOs testified before Congress that if the restrictions prohibiting them from getting into long distance and cable were lifted, that would give them the incentive to build broadband networks and offer competitive cable," complains Representative Edward Markey Edward Markey (D Mass)., whose telecommunications subcommittee of the Committee on Energy & Commerce wrote the act.
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The biggest loser was Carlos Slim, whose Mexican telecommunications company American Movil declined 25 per cent in 2015.
The action came in response to a complaint from Turkey's directorate of telecommunications, whose Web site was taken down on Thursday as part of a protest against what Anonymous says is government censorship of the Internet.
"Either prices go down and the current regulatory system is discarded or you start to regulate the Internet," said Nicholas Economides, an economics professor at New York University whose specialty is telecommunications networks.
Around the same time, Lucent -- through its vice chairman, Bernardus J. M. Verwaayen, a Dutch telecommunications executive who arrived in 1997 -- also contacted two other foreign communications equipment makers: Nokia of Finland, the global leader in cellular phones, and Siemens of Germany, the industrial conglomerate whose products include telecommunications equipment.
"This really was the place to celebrate," said Tony Musich, a retired telecommunications manager whose wife, Mary Ann, was a Tavern regular.
Even Matthews, the goateed telecommunications entrepreneur whose drive and resources brought the event here, is no longer based in Wales.
One target was Lucent Technologies, the battered telecommunications company, whose credit rating was recently downgraded to just above junk status.
Mr. Smits of KPN is not the first top telecommunications executive whose job has been claimed in the industrywide debacle.
Top of the pile is Carlos Slim Helu, the Mexican telecommunications mogul, whose family's net wealth is estimated by Forbes business magazine at $73bn.
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Justyna Jupowicz-Kozak
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