This report analyses the recent acceleration of telecom consolidation worldwide, examining the structural market trends behind it: saturation, limited revenue growth, sustained investment needs, and intensifying competition from digital and infrastructure players. It reviews the major M&A transactions completed or announced since 2020, explores the strategic drivers behind cost, revenue and diversification synergies, and compares regulatory approaches across regions.
The study also assesses the expected evolution of merger control in Europe and anticipates how investment, resilience and sovereignty considerations may reshape regulatory decisions by 2027. Finally, it outlines the emerging pipeline of potential deals and the strategic implications for operators, policymakers and investors.
- World
- Asmaa Zaher, Director of Studies