This chapter reveals changing patterns of competition in the telecommunications industry due to liberalization and technology innovations. Starting around 1980, governments in many countries took initiatives to liberalize the industry in order to move away from the dominance of monopolies and allow other firms to compete in markets for operations of telecommunications networks. The UK belonged to the forerunners and allowed entrant firms to challenge the previous monopoly. Among others, City of London Telecommunications (COLT) recognized the opportunity and developed a competitive international strategy relying on an innovative technology for fiber networks. This chapter analyzes the way in which COLT implemented the strategy under the influence of competition in the initial phase (1992-1996) and throughout the worldwide geographic expansion (1997-2019). The necessity of getting operating licenses and access to customers, and need for capital were the major barriers in the initial phase when COLT executed a strategy of customer responsiveness and exploited the network advantage. During the worldwide expansion, COLT broadened its range of services and strived towards standardization. The barriers of getting licenses and financing the expansion remained. The necessity of low costs became another major barrier because price competition became intensive.