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  "documentTitle": "GTT Communications, Inc. (GTT)",
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  "notes": "The slide uses a transcript to expose a lack of strategic alignment or awareness by the CFO.",
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      "text": "It is incredible to us that the CFO could have possibly been unaware that a $2.23 billion acquisition, which more than doubled the size of the Company, was set to close that day.",
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      "text": "To provide some context, CFO Mike Sicoli is in the middle of talking about the success of GTT’s “capex-light” strategy and how a “really strong strategic fit” is key to GTT’s M&A targets, when he is apparently informed in real-time that the Interoute deal has closed.",
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      "text": "<Q - Jonathan Charbonneau>: Well, congratulations. Yeah.\n<A - Michael T. Sicoli>: Yeah. When I said [ph] two I meant really too big (17:59). We're on all bunch of calls this morning. I wasn't sure if I was going to [indiscernible] (18:04)...",
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      "text": "<A - Michael T. Sicoli>: Yeah. I would say the key is, when we think about M&A generally, there's a three-pronged approach... The last mile fiber or building data centers... it's impossible to run a CapEx-light business with those attributes.",
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      "text": "<A - Michael T. Sicoli>: Yeah. I would say the key is, when we think about M&A generally, there's a three-pronged approach... I do also want to put out we've just - sort of some late breaking news, while we're sitting here, we did just close the Interoute deal. So... — Michael T. Sicoli",
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      "kind": "source-note",
      "text": "Source: “Cowen & Co. Technology, Media, and Telecom Conference 2018,” Accessed via Bloomberg LP",
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      "kind": "title",
      "text": "Appendix D – The Most Awkward Conference Call Transcript We’ve Ever Seen",
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