This is what we have seen on several occasions recently:
- Vodafone pulling out of the US (Verizon Wireless) to invest in other regions (Project Spring).
- KPN pulling out of Germany (E-Plus). It remains to be seen where all this cash will go: to shareholders, to Belgium or to the Netherlands (with this kind of cash, KPN could even buy Ziggo and UPC NL to create a national infrastructure).
- AT&T pulling out of Connecticut (SNET) to focus on U-verse in 21 other states.
Multi-national telcos have been buying and selling a lot over the past few years (Tele2, UPC, Telefonica, Orange). We will see what will be next.