middle east telecoms cxo agenda what is next www ovumconsulting com executive seminar fixed voice lines revenues narrowband connections broadband mobile subscribers western europe me & africa source ovum 300 250 200 150 100 50 0 18 717 19 928 25 854 32 341 46 075 53 340 56 208 64 670 76 374 7 637 6 753 008 3 620 972 15 859 584 8 685 14 418 099 insurance real estate electricity banks diversified financial services holding companies mining investment telecommunication ten year average m&a volume in us million last years 12 months most active industry sectors and the bloomberg consulting analysis 24 market decline growth slowing represents only proven opportunity this forcing shareholders to think about complicated things like structural separation unlock value mea region on other hand there still significant activity across