11.   It would not have changed the difficult straits of the telecom industry.

12.   Last year, Norfolk Southern created a subsidiary, Thoroughbred Technology and Telecommunications, or T-Cubed, to take part in the telecom industry.

13.   More recently, successful mergers have reshaped parts of the telecom industry.

14.   On top of that Pirelli has a wire and cable business that supplies the telecom industry.

15.   Nowhere is this more starkly illustrated than in the current row over competition in the telecoms industry.

16.   The past week has seen a number of major developments in the telecom industry.

17.   The prevailing head winds in the telecom industry were not favorable.

18.   The telecoms industry will be thrown open to foreigners.

19.   The WTO announcement lifts a potential threat to growth in the world telecom industry.

20.   Traditionally these have been property companies or banks, but this time the bets must be on the telecom industry.