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Happy telecom tales of ETT

The TMT collapse has put paid for now to any thoughts of an early IPO for one of the City's best-known telecoms figures. James Dodd, the former telecoms specialist who handled the Orange, Telewest and Energis floats during his time at Dresdner Kleinwort, will have to be a little more patient with his own IPO.

Dodd quit the bank two years ago to become boss of European Telecommunications & Technology (ETT), a start-up providing mostly data links for big companies. ETT, which buys phone capacity rather than operate its own networks, has close links to Dresdner, the owner of Elder Street, the venture capital firm that backed the Dodd start-up. Cazenove is also involved in the financing. But although an IPO is on the back burner, ETT is apparently well financed and its 'burn rate' is not that terrifying, according to an insider.

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