Break up of all the world’s phone companies.

Alexander Graham Bell founded AT&T in 1877.  His world is finally about to crash and burn.  US carrier service growth is slowing for the first time since the Great Depression.  But, today we are in a 10-year-long boom!

They want to break out with 5G wireless but the costs are eye-watering.  And their property, plant and equipment-to-sales ratios are scary and their D/E ratios even scarier.

There is no way out of this.  Break up is next.  The only questions are: when, how and with what result.

Field day for the investment banks.