Some of the questions this raises:
- Who will by AOL Europe? Plenty of interest for individual country operations.
- Will BT copy KPN's strategy, buying up rivals at home? How far are regulators willing to let the incumbent go? They risk sinking LLU regulation altogether.
- Will Tiscali be around in another 12 months or so?
- What will O2 do in Germany?
- What is Vodafone (an 'infrastructure-light approach') up to?
- What will these boxes be able to do?