Recently the European Commission outlined proposals for a significant departure from the current way mobile voice call termination is regulated in Europe, with an overall ambition to harmonise the way the wholesale charges are calculated. By 2012 the EC wants termination rates to be based on a bottom-up long-run incremental cost model and to be symmetrical between operators. This shift in methodology represents a significant threat to the current level of mobile termination rates in Europe and the revenues operators get from them. Article