Hi Martin, That statement is true in the long run. But not the short run. No would argue that current TransAtlantic pricing could justify a new cable system. :) If you look at the last three TransAtlantic builds, they spanned from $600 million to $980 million. No backhaul included. Current market pricing could never justify another system or for that matter doing a true terrestrial build (trenching and creating a conduit system). Everything has been based on recycled assets to this point. Regards, Roderick S. Beck Director of European Sales Hibernia Atlantic 13-15, rue Sedaine, 75011 Paris http://www.hiberniaatlantic.com Wireless: 1-212-444-8829. French Landline: 33+1+4355+8224 French Wireless: 33-6-14-33-48-97. AOL Messenger: GlobalBandwidth rod.beck@hiberniaatlantic.com rodbeck@erols.com ``Unthinking respect for authority is the greatest enemy of truth.'' Albert Einstein.