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Why Telecom Firms Are Among 2021’s Top European M&A Targets Bloomberg 12/18/2020 Kit Rees (Bloomberg) Next year’s most likely M&A targets include telecom stocks Royal KPN NV and BT Group Plc, according to merger and acquisition desks, as a revival in dealmaking activity is set to favor a sector that has struggled with competition and rising investment needs. Popular Searches Dutch operator KPN was included in the M&A watch lists of eight of 13 event-driven traders, analysts, brokers and fund managers surveyed by Bloomberg News. BT and network-equipment maker Nokia Oyj were included three times. Europe’s telecom stocks have been laggards over the past five years as costly network upgrades and price wars have weighed on the sector. Even as the pandemic prompted hopes that telecom firms would get a boost from increased data usage as more people worked from home during the lockdowns, the Stoxx 600 Telecom Index has underperformed ....