Telecom loan boom waits for EU's starting gun
![day BT British Telecom Tower in London England Britain United Kingdom UK. Image shot 2014. Exact date unknown.](https://assets.euromoneydigital.com/dims4/default/880a624/2147483647/strip/true/crop/5021x3341+0+0/resize/840x559!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F41%2Ff1%2Ff6a7b6d6488dac75e081b7fb8e1e%2Fahcf85.jpg)
M&A in 'wait-and-see mode' until Italy and Spain deals are decided
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