Morgan Stanley Dean Witter (MSDW) is to expand its European telecoms team in anticipation of a big rise in M&A activity. It will do this partly by moving people internally and partly by recruiting from other banks.

MSDW boasts one of the top two telecoms teams in Europe and advised Mannesmann last year on its attempt to defend itself against the hostile bid by Vodafone AirTouch, and earlier helped the German group acquire Orange.