Telefonica's takeover of Italia Telecom has met with a surprisingly sanguine response from Brussels and is set to create a European telecom super-power. There will undoubtedly be more deals like this - with the eastern European and Middle easter markets being particularly attractive to Western European incumbents whose markets have reached saturation.
As the telcos increasingly fail to decommoditise their offerings, scale will count, as AT&T has proven in the US as it reassembles itself.
What is interesteing is, thanks largely to new technologies, that such massive companies are no longer seen as monopolistic.
Good news for us here at Narrowstep also, since we provide the internet tv capability currently used by Telefonica in Spain and South America.