This international volume presents a comprehensive, comparative study of the transformation of the European telecommunications industry from 1990 to the present. The book focuses on the old incumbent operators and their dramatic change from state agencies to listed companies. It analyzes the liberalization process, as well as the corporatization and privatization of these companies. The contributors assess the conditions for the transformations taking place; the driving forces for change; the effects to management, the efforts of the EU during these processes, and ultimately, the role of the private owner. Political science publications have all but excluded analysis of the newly privatized companies; their contribution to the liberalization process both before and after privatization; and the interplay between the national political and company levels. The book redresses this shortcoming, and also features a double empirical focus in that the main national incumbents in Europe are analyzed and compared to Telenor, the Norwegian former incumbent.