UK mobile joint venture EE , which is in the throes of being bought by BT for £12.5 billion ($19.1 billion), has underlined its attractiveness as an acquisition target in its full-year results, with EBITDA inching up 1% year-on-year to £1.58 billion ($2.41 billion) and its 4G base reaching 7.7 million customers, making it, it says, Europe's largest 4G operator. Tablet tariffs are proving increasingly popular, recording a 68% growth in uptake year-on-year. (See BT Locks Down £12.5B EE Takeover Deal.)

Telia Company has received approval of its proposed acquisition of rival Tele2 AB (Nasdaq: TLTO)'s Norwegian operations from the Norwegian Competition Authority. But before the approval was granted, the enterprise value of the deal had to be reduced from 5.1 billion Swedish kronor ($615 million) to SEK4.5 billion ($543 million). (See Tele2 gets green light to sell Norwegian unit to TeliaSonera.)

Russian operator Mobile TeleSystems OJSC (MTS) (NYSE: MBT), which is facing challenging trading conditions in a domestic market hit by economic sanctions, has had its credit rating downgraded by Standard & Poor's, from "BBB-" to "BB+" following the downgrade of Russia's sovereign rating along the same lines. (See MTS Braced for Ruble Trouble.)

— Paul Rainford, Assistant Editor, Europe, Light Reading