$SKY$VOD$BT.A$MANX$TEEG$TALK$SKMD Mobile telecoms are struggling to grow their revenues: voice is declining for several years, data is joining the trend. Potential new services are network-related M2M/IoT and higher level digital services, but success in these segments is not guaranteed automatically, so the value of many telecom companies (both mobile and fixed lines; at least in the developed markets) will decline in the coming years #bearish