NEW YORK (
) -- Whether it is a consolidating telecom sector or a
Thursday merger proposal between financial powerhouses
(ICE - Get Report)
, the sectors that failed to consolidate last year are betting 2013 is the year antitrust officials back off.
Currently, three multi-billion dollar telecom sector deals face U.S. antitrust approvals by the U.S. Department of Justice and the Federal Communications Commission, and Thursday's $8.2 billion
ICE and NYSE merger
would face as many as five regulatory approvals around the world. At this time last year, many in the business press might have said the present slate of pending mergers is a reflection of corporations thumbing their nose at feckless antitrust officials.
A lack of hysterics in the proposed exchange's consolidation and a string of telecom deals, which includes
of Japan, and the company's more recent
signal that the facts have changed dramatically in both industries.
At this time last year, investors in both sectors were recovering from
(T - Get Report)
failed $39 billion effort for T-Mobile and they were licking their chops for officials in Europe and the U.S. to nix a similar cross-Atlantic merger between NYSE Euronext and
Few see antitrust officials playing a heavy hand in a hat trick of telecom mergers and analysts at Berenberg Bank and Stifel Nicolaus said on Thursday a lack of overlap in ICE and NYSE Euronext's disparate trading and clearing businesses make a deal blockage more remote than last year, when antitrust officials also balked at a joint bid between ICE and
Nasdaq OMX Group
(NDAQ - Get Report)
for the iconic NYSE.
So what is the difference?
It boils down to a year of deteriorating fundamentals for also-ran U.S. telecom operators and NYSE's unrelenting stock market share losses to off-exchange operators like
BATS Global Markets
Meanwhile ICE's play for NYSE Euronext and a sketched-out reconfiguration of the telecom sector may also represent more
AT&T's M&A effort was widely panned as being a push to turn the U.S. wireless sector into a duopoly, while E.U. officials said the NYSE - Deutsche Boerse tie up raised the prospect of making European stock and derivatives