Credit crunch hits telcos

The global financial crisis may hit new telecommunications operators harder than the established firms, said EU telecoms commissioner Viviane Reding. She argued against calls for lighter regulation of the industry. IT Web reports.

« Big companies by themselves have a lot of means to invest...but in these times it is much more difficult for new entrants, » Reding told Reuters on Saturday.

Reding, attending an event in Venice organised by the European Telecommunications Network Operators' Association (ETNO), sought to persuade its members of the continued need for regulation.

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emily | 12:50 PM | News, Buzz |
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