Consolidation is on the horizon for the European telecom industry as companies begin wheeling and dealing again after several lean years, and Wednesday brought potential deals from key players. Deutsche Telekom declared it would not bid on U.K. mobile operator O2, paving the way for Spain's Telef�nica to acquire O2. Meanwhile, Ireland's Eircom plc received a takeover approach from an undisclosed party, sending its share price soaring as much as 17 percent. Analysts suspect the bidder may be Swisscom.
November 07, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The high-risk saga of European telecom consolidation took another twist on Wednesday as one powerful predator tightened its grip on its prey while another acquisition target moved firmly into play.
Telef�nica SA’s chances of success in its 17.7 billion pounds ($31.2 billion) offer for U.K. mobile operator O2 plc received a huge boost after its most likely challenger, Deutsche Telekom AG, declared it would not bid.
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