A positive side effect has emerged from the tough regu-lation of incumbents and the harsh competition between other infrastructure carriers in Europe's telecoms market - a revival of the reseller. The argument now is that a reseller, operating either as a multi-utility or at a pan-European level, might have the scale to become successful. Resellers have historically attracted relatively large turnovers based on carrying a high volume of minutes, but this has not been matched by a correspondingly high level of profitability.
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