Telecom market awaits increased data revenue

The UK telecom sector remains under pressure, with the FTSE All-Share telecom index down 26.95% for the year to 27 November. Ralph Brook Fox, investment manager at Britannic Asset Management, says he is cautious on the sector. Britannic is underweight telecoms by 1%. He says: "It has been a horrible 12 months. One reason the sector got so high last year is that everyone was obsessed with high growth rates and people were generally ignoring the increased competition. Competition is very intense. It will depress profit margins and delay the time it takes for companies to become profitable."...