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The number of M&A deals announced in 4Q19 was 41 – lower than 3Q19 deal volume of 57, and also below the 4Q18 deal volume of 58. The quarter witnessed decline in M&A volume in US and Asia.


  • Aggregate M&A spending increased to $38bn in 4Q19. This was nearly double the 3Q19 aggregate spending of $19bn, but below the 4Q18 aggregate spending of $51bn.
  • In 4Q19, deal volume was highest for wireline (11 deals), multi-play (nine deals), fiber optics (eight deals), and towers (six deals).
  • The industry segments with the highest M&A deal value were internet, data center, and multi-play.

Features and Benefits

  • Highlights the current trends in communications provider M&A.
  • Assesses the role of M&A in the evolution of the communications provider sector.
  • Reviews the key players in communications provider M&A.

Key questions answered

  • How many M&A deals were announced in the communications provider sector in 4Q19?
  • What was the aggregate M&A deal value in 4Q19?
  • What market trends have been motivating recent mergers?
  • Which geographic regions and sectors are witnessing the most M&A activity?
  • Who are the biggest players in communications M&A?

Table of contents


  • Introduction
  • Download 1: Communications Provider M&A: 4Q19 Review & Outlook

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