Merrill Lynch bullish on Asian telecom bonds

Merrill Lynch predicts 3G costs will weigh less on Asian telecoms than on their European counterparts, boosting the relative value of Asian telecom bonds.

Asian telecommunications company bonds could outperform those of their European counterparts as their credit ratings are unlikey to be as dented by high third-generation license costs, according to a report by Merrill Lynch.

European telecommunications companies including British Telecom, France Telecom and Deutsche Telekom have seen their credit ratings drop after they paid high prices for European 3G licenses. Third generation licenses allow higher data transmission rates than existing second-generation standards.

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