Selected opportunities in the telecoms companies

Following the 1999 bull market in European telecom and technology stocks, Colonial First State is warning the sector is facing increasing competition and investors will have to be more selective next year in order to achieve strong performance. Mark Burgess, chief investment officer at Colonial, says competition is already taking its toll on PC manufacturers. As an example of this he says the share price of Dell has gone sideways for most of this year. He adds: "Although we are positive in this area in the medium term, performance in telecoms and technology stocks will be characterised in...