Telecom merger and acquisition activity nosedived 32 percent year...
Telecom merger and acquisition activity nosedived 32 percent year-over-year in 4Q08, Ovum said in a study released Monday. The fourth quarter saw 129 deals, down from 192 a year earlier, the research firm said. Only four deals were worth…
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more than $1 billion, down from 10. “The financial market turmoil resulted in the acceleration of some deals, but uncertainty was the dominant factor,” said Matt Walker, Ovum’s principal analyst. “While this uncertainty lasts, there is incentive to sit and wait, until expectations and valuations stabilize. Preliminary analysis of 1Q09 results confirms this view, but finds activity picking up in some areas.” Takeover activity should stir again in late 2009, particularly among vendors, Ovum said.