M&A Year in Review 2023 brochure - Flipbook - Page 58
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Telecoms
Sector performance
2023 telecoms M&A activity continued the downward
trend the sector experienced in 2022. Infrastructure
dealmaking persisted, with multiples for digital
infrastructure transactions remaining strong.
Joint ventures remained a popular alternative deal
structure in the sector, with in-country consolidations
accounting for more than a third of all deal values, the
largest among deal types. Several transactions involved
telcos moving into adjacent sectors, including digital and
software, to explore long-term growth options and
expand their core business.
Hogan Lovells activities
In 2023, our Telecoms team assisted clients in the cable,
mobile, satellite, and broadband space. We attended
conferences across the globe, including the annual
Mobile World Congress events in Barcelona and Las
Vegas, where discussions focused on the future of AI.
We also published thought leadership addressing this
quickly evolving technology in the context of the
telecoms sector, including contributing to our Global
AI Trends Guide. We hosted our flagship telecoms
event, the annual Winnik Forum in Washington, D.C.,
which focused on the impacts of the development
and implementation of Open Radio Access Networks
(Open RAN).
