Risks growing to telecom operators' defensive models, Citi says

Caught between regulators and competitive threats by Internet players, telecom operators globally face harsh choices that could upset their favored status with investors as defensive, dividend-rich stocks, Citi said on Wednesday. Citi research analysts say in a 146-page report that mobile and fixed line operators must choose between investing to become digital players to fend off Internet foes or streamlining their businesses and acting as "dumb pipes" for digital players. The global, comparativ