Ann: Australian mobile network rollout update, page-33

If the merger is blocked, the entire sector will be trashed once more.  Players in a struggling sector with pressure from the government-owned player and decreasing margins can't be expected to roll out new mobile networks. 

The ROI just isn't there in a country with 25 million people imo.  Telstra is still dominant, and the best way to challenge that is 3 strong players -- not 2 strong and 2 weak ones.  Edit: also, I think you jumped the gun on selling.  This will probably go high $7 or even low $8 again by March.