Rumor--The Mother of All European Equity Plays

Reports out of Europe and the UK (where I've been last week) have the Mother of All European Equity Plays coming down the pike the second half of the year. KKR (the investment bank that knows all about LBO's and takeovers) is the likely lead making a very substantial play likely rolling up a series of telecom and communications assets into one very large company that will likely rival AT&T in size and might, but with global reach.

Speculation is that Arun Sarin, who has just announced he's leaving Vodafone may be part of the equation.