US Telecom Industry Services Industry Update 10 Questions for 2015... .pdfVIP

Deutsche Bank Markets Research North America Industry Date United States 14 December 2011 US Telecom TMT Industry Update Telecom Services Services Brett Feldman 10 Questions for 2012... Research Analyst (+1) 212 250-4621 brett.feldman@ Jonathan Epstein, CFA ...and our best guesses on the answers Research Associate In this report, we ask the top 10 questions that we believe telecom investors (+1) 212 250-1171 should be asking themselves as we head into 2012. For each question, we jonathan.epstein@ provide our best guess on the correct answer along with our rationale including one table or graph illustrating the key issue underlying the question. Jiorden Sanchez, CFA Below, we summarize the 10 questions and our best guesses. One