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Oct 31, 2002

Back to earth

Once upon a time the sky was the limit to telecoms expansion. Industry IROs talk about how their message has now changed to one of cash conservation and survival

At the beginning of the 1990s most telecoms companies were boring old utilities - dependable, dividend-paying income stocks. But in the acquisitive flurry that followed, telcos began touting themselves as growth stocks - and investors were quick to take up the rallying cry.By the turn of the millennium telcos were the superstars of the capital markets. Their share prices were heading seemingly for the sky, while their IROs were among the profession's highest paid. Larger telcos were gobbling

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