More of the same nightmare scenario of fewer orders and fewer sales, but no different to other sectors.

But the orders could come back if the war uncertainty is removed and people feel more confident about putting their money on the table.

A lot of people, I guess, would just consider that this is more to do with a battle between AMD and Intel, but obviously it is going to have some sort of an effect on the tech sector.

Any M&A on this scale is good news for the market. Consolidation is needed in the telecoms industry and premiums increase investor sentiment.