The next wave of merger and acquisitions is likely to manifest through consolidation. The telecom industry remains fragmented relative to other industries – the largest operators earn a smaller percentage of total industry revenue than peers in other industries do, suggesting that the sector is primed for further consolidation.
As it enters a new phase of inorganic growth, three types of consolidation activity are likely to reshape the telecom industry. Large, cross-border megadeals are expected to dominate.
In-market transactions and consolidation of ownership stakes also will resume, though at a slower pace. The operators that capitalise on this wave of consolidation could emerge as the global winners in the telecom industry.
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