How former State Owned Telcoms Enterprises emerged as Multinational Corporations

What is it about?

For decades, telecoms were organized as State Owned Enterprises in most countries. Privatization and liberalization gave way to their internationalization, and emergence as Multinational Corporations. But whilst some went international, others remained national. Why? This article explains the different paths taken by British BT and Spanish Telefónica.

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Why is it important?

This paper deploys business history and economic history techniques to determine why Telefonica became one of the world´s largest telcoms Multinationals, whilst BT behaved more conservatively, seeking only global alliances, many of which failed.