(Reuters) - Europe’s telecoms industry needs to consolidate, Deutsche Telekom Chief Executive Tim Hoettges said on Friday, as the region’s 100 operators invest more in 5G networks at a time when revenue and profits are under pressure.
“The industry is in a dilemma that it can only escape through cost synergies,” Hoettges told a news conference, repeating earlier calls for consolidation. “I believe deeply that European consolidation is necessary.”
The Germany-based telecoms group is not in active merger talks, he added.
Reporting by Douglas Busvine; Editing by Maria Sheahan
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