Re: I'm getting confused ...
It depends upon what threats you are worried about. If your protocols are secure in themselves (i.e. working end-end encryption, etc) then the telco equipment can't see the contents no matter how they are routed and through who's equipment. But if you have control over the equipment in a given country, for example, you can use it for several obvious activities no mater what:
- Get the metadata on who is talking to who (and in the case of mobile phone networks where they have been), useful if you want to target specific individuals, identify who works at/with a specific company or gov department, etc.
- Copy encrypted data passing within that country so in 5-10 years time, or if other leaks / cryptanalysis breakthrough / etc happen, you might be able to decrypt it.
- Bring down comms if you enter any sort of conflict where business niceties go by the wind