AT&T could make a leap over to Europe's debt-ridden and revenue constrained telecoms market if a deal was available at the right price.
On the heals of Verizon's $130bn buyout of Vodafone's stake in the company, AT&T has repeated its interest Europe as chances for consolidation in the US remain slim in the face of regulators keen to see at least four major mobile players in the country.
"If there were opportunities that presented a good value, of course we would do it," AT&T CEO Randall Stephenson said at an investor conference Tuesday in New York, according to the Wall Street Journal.
The statements aren't that surprising, given Stephenson's frequent visits to the continent and ongoing search for a European acquisition, as the Financial Times reported in June. The company was also said to be in talks with the Spanish government over Telefonica, which has a significant presence across Europe.
According to the WSJ, AT&T sees a chance to bolster mobile data consumption in Europe, which has struggled to keep pace with US investments in LTE networks.
A report by mobile trade association the GSMA earlier this year highlighted that nearly 20 percent of US mobile subscribers were on 4G LTE compared with under two percent in Europe. In the US, revenues per user are nearly twice that of many major markets in Europe, yet consumers in the US used twice as much data.
But a move to Europe would come with risks for the US carrier. AT&T's Stephenson noted that the standardisation of spectrum regulation is a particular problem in Europe and that licences in Europe only last 10 to 12 years compared to the indefinite licences available in the US.
The European Commission hopes to address spectrum issues in a telecoms package unveiled last month in the hope of accelerating investment by the mobile industry, which have also been hampered by the sluggish release of spectrum by some nations.