Not sure I’ve seen any fireworks lighting up the sky, but it’s now a full 25 years since the first telecom deregulation. In that time just about every market in the world has gone down the path to competitive communications. So what, fundamentally, has happened in that time? Competition and regulatory pressures have transformed prices, but as the communications world discovered the laws of market elasticity, rising volumes and the phenomenal growth of mobile have meant that revenues have...