SPOTLIGHT: European merger frenzy

Speculation was abuzz this weekend over European telecom mergers. Cable & Wireless might be the target of a private equity-backed takeover bid, possibly from France Telecom. Meanwhile, Virgin Mobile investors are reportedly holding out for a bigger offer from cable operator NTL, and Ireland's national carrier Eircom is now believed to be an attractive asset for private equity groups because of the high margins it's generating from voice and data services. Article