[jas3]

Few were willing to bid because the market is enormously saturated. There is such incredible excess capacity that it will take years for the market to clear itself.

Do a little math and figure out the total bandwidth in use at any one time on Global Crossing's network. Then multiply by $30 per Mbit per month. The revenues are chump change too.

Add to that the emergence of MCI/UUNet from Ch11 and you've got the makings of another bandwidth price war.

[CasearianDaoist]

Yes, but it is so cheap. Just getting the fiber is worth it - just sitting on the fiber for a few years would be worth it. They must not be able to strip off the debt.