Last week in telecoms: consolidation in Scandinavia and spectrum in Spain

Last week's performances ranged from -12 percent to +18 percent, but the losers outnumbered the winners, causing our European telecoms index to drop 1.4 percent. The EuroStoxx 50 index gained 02. percent. Sweden was at the centre of attention with Telia and Tele2 reporting on Q2. Telia also announced two large acquisitions. Iliad proved successful in Italy. Most satellite stocks suffered a correction but Intelsat is still on top year to date.