Last week in telecoms: double digit losses for Iliad and Play, double digit gains for Drillisch, United Internet and Gamma

The European telecoms sector underperformed the general market in week 36. Iliad and Play suffered double digit losses and not all M&A related news pushed the market towards consolidation. The Italian market remains the embodiment of competition, with all mobile operators beating the promotion drum. Our European Telecoms Services index was up 0.5 percent for the week as a result of a few steep gains, at 1&1 Drillisch, United Internet and Gamma Communications. The EuroStoxx 50 index was up 2.0 percent.