When we did the analysis of who had done what in telecom this year, we came up with an interesting league table. Goldman Sachs topped the chart by a massive margin. We equally apportioned credit for equity, debt and M&A deals, and using this methodology, Goldman's 14 deals represented $22 billion. Its strongest bulge bracket competitor was Merrill Lynch, which accrued $10.15 billion in seven deals. This underlines Goldman's dominance in the telecom field in Asia.