Emerging-market telecom buyers get picky: Industry stands in better shape to capitalize on deal opportunities

LONDON (MarketWatch) — As international telecommunications operators shelve expansion plans to preserve cash and the myth collapses that emerging-market economies are independent from their western counterparts, the face of dealmaking in telecom is changing rapidly.
The credit crunch has stifled M&A activity around the globe and across sectors. Still, telecoms have suffered less than most of late, in large measure because the industry had its own massive bust, back at the turn of the century, that forced many key players to rebuild their balance sheets.
As a result, more than a few operators find themselves in position to make acquisitions, this despite the scarcity of credit. But these potential acquirers, whether based in the West or more likely in the Middle East, have become much more selective.