The emergence of Gamma telecom for opex control in the post-telecom crash world is discussed. The Gamma wholesale model provides call termination and fixed, mobile and international interconnection at the lowest cost base. Gamma used BT's In span interconnect (ISI) services than leasing circuits on a per kilometer basis via BT's custom span interconnect (CSI) service to minimize the cost, as interconnection has a hugely dominant impact on opex. The network operation and back office costs of Gamma are found to be less than 1% of revenues, representing one quarter of industry norms.