Telecoms : Mergers abound in UK

Compared to other European markets, the telecoms market in the UK is lagging behind when it comes to fixed-mobile convergence. According to the credit ratings agency Moody's, the UK telecoms market has been experiencing a strong movement towards consolidation. The agency highlights several large-scale mergers: Hong Kong-based Hutchison Whampoa is coveting O2, and is in discussion with its mother company, Telefónica (Spain), while the latter has begun talks with British Telecom, which is more interested in the joint British subsidiary…