"Telcos Can't Afford to Stand Still"

S&P's Todd Rosenbluth recognizes that wireless, broadband, and cable pose challenges to telcos, but he still sees a few buys

A shakeout is coming in the telecommunications industry, stemming in part from two pending mergers of giants -- Verizon Communications (VZ ) with MCI (MCIP ), and SBC Communications (SBC ) with AT&T (T ).

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