Europe Awaits Wave of Telecom Consolidation

A rising tide of deal making in Europe's troubled telecom sector is spurring more companies to dip their toes in the water, raising hopes for a long-awaited wave of consolidation.

Across the EU, well over a hundred mobile and fixed operators in 28 countries are owned by over 40 major groups. That compares with just four big mobile operators, and an increasingly consolidated cable business in the US. Action could come in Italy, the U.K, Belgium or in Nordic countries, executives and bankers said. Bigger companies could consolidate their positions in their existing footprints, or put together other combinations of fixed-line players and mobile operators.