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Formus Communications

Telecoms (Internet) | Pan-European
Initial BCEL investment date: November 1997

Initial GMT II investment date: June 2000

Trade: Fixed Wireless Broadband

Business description:
At the time of investment, Formus Communications was a 100% venture-backed company focused on acquiring local multi-point distribution service (LMDS) licences in markets in Europe and internationally. Its wireless local loop services, built around datacoms and Internet connectivity, were aimed at markets where the limitations of incumbent fixed wire telcos had created high demand among businesses and, to a lesser extent, residential users for alternative data/Internet and voice solutions. The company had licences and wireless spectrum in a range of European countries including Germany, Switzerland, Austria, Poland, Spain, Norway, Finland and Ireland. The company went into administration in 2000.

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