Concerns over how alternative telecoms carriers will be able to raise the money they need to follow their business model through have driven share prices in the sector to year lows.

Following a rise in Colt Telecom's operating losses from £23.6m (€38m) in the first half of 2000 to £39.5m in 2001, the share prices of comparable companies Versatel Telecom, Viatel and Kingston Communications all fell to their lowest level of the year.