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European telecoms industry needs to consolidate

Europe’s telecoms industry needs to consolidate, Deutsche Telekom DTEGn.DE Chief Executive Tim Hoettges said on Friday, as the region’s 100 operators invest more in 5G networks at a time when revenue and profits are under pressure.

“The industry is in a dilemma that it can only escape through cost synergies,” Hoettges told a news conference, repeating earlier calls for consolidation. “I believe deeply that European consolidation is necessary.”

The Germany-based telecoms group is not in active merger talks, he added. Reuters

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