Top executive argues reinvestment from 3G auction

date: July 16, 2001

The chairman of Bookham Technology suggested the government should reinvest the £22.5billion raised from last year's 3G auction back into building a broadband network.

Andrew Rickman, founder and chairman of the company said the reinvestment of infrastructure will be fundamental to the economy.

In the interview with the FT, he said "If it doesn't allow that money to flow back to the construction of a better communications infrastructure, they will be party to snuffing out the main growth industry of the economy."

His comments came from a growing numerous of top executives who shown criticism on the high cost of the 3G auction and the debt-mountain after effected.

Marconi, the UK much troubled technology company blamed the 3G auction in decline sales of telecommunication equipment.

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