James Hynes, president and chief executive of City of London Telecommunications Ltd, told Il Sole-24 Ore last week that COLT is eyeing an entry into that market, although it is still in the early planning stages. We would start in Milan and Rome, said Hynes of the operator that was founded in 1992 by Boston-based Fidelity Investments. The paper says COLT’s expansionist tendencies are serious; it is laying cable in Frankfurt where it has already acquired its first two clients. COLT has invested $100m to date in its London operations to lay 500 miles of fibre optic cable connecting 350 buildings in the City and the Docklands. COLT follows US.and UK-based companies MFS Communications Corp and Esprit Telecom Ltd, which have recently each announced intentions to disembark in Italy.
