OVER THE PAST 18 months or so, the financial world has been rocked by bankruptcies at leading telecoms and communications equipment makers, including Global Crossing,Teleglobe, 360networks, Marconi, WorldCom and NTL.
But now these bankrupt operators are working their way through the bankruptcy net and starting to seek new funding. Rather than running for cover, investors and bankers are eagerly contemplating the massive debt capital markets opportunities presented by the return of these fallen angels as industry consolidation takes hold.
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