European telecoms sector faces ‘perfect storm’, Telecom Italia CEO says

Telecom firms in Europe are facing unsustainable market trends linked to shrinking retail prices, booming data consumption and “unprecedented” investment needed to upgrade networks, the head of Telecom Italia (TIM) said on Tuesday.

“We are facing a perfect storm”, Pietro Labriola said at the Mobile World Congress (MWC) in Barcelona, citing also slowing economic growth and rising interest rates.