As a consequence of liberalization policies in the European Union (EU), a number of formerly inward-looking incumbents in telecommunications and electricity transformed themselves into some of the world’s leading Multinationals. The relationship between liberalization and incumbent...

One consequence of the liberalization of certain services in the European Union was that a number of formerly inward-looking incumbents in telecommunications and electricity rapidly transformed themselves into some of the world's leading Multinationals. However, the precise relationship between...