Mergers, Acquistions and Control of Telecommunications Firms in Europe

Regulation Initiative Working Paper Series No. 38

33 Pages Posted: 6 Sep 2002

See all articles by Francesc Trillas

Francesc Trillas

Autonomous University of Barcelona - Department of Economics; University of Navarra - IESE Business School

Date Written: August 2000

Abstract

Evidence is presented on twelve large aquisitions by telecommunications firms in Europe. Although the average effect on acquirers' shareholder value is not significantly different from zero, there is high dispersion in the results. This suggests that detailed studies may uncover important aspects of the constraints that exist in the corporate control market of telecommunication firms. A case study of the Spainish firm Telefonica suggests that corporate governance problems and political intervention are significant components of these constraints.

Suggested Citation

Trillas Jané, Francesc, Mergers, Acquistions and Control of Telecommunications Firms in Europe (August 2000). Regulation Initiative Working Paper Series No. 38. Available at SSRN: https://ssrn.com/abstract=319682 or http://dx.doi.org/10.2139/ssrn.319682

Francesc Trillas Jané (Contact Author)

Autonomous University of Barcelona - Department of Economics ( email )

Avda. Diagonal 690
Barcelona, 08034
Spain

University of Navarra - IESE Business School

Avenida Pearson 21
Barcelona, 08034
Spain

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