Investors in Vodafone and Swisscom should expect to see dividend cuts, analysts at Macquarie said.
Telecoms stocks should 'outperform' under a 'Leave' scenario, but even in the case of 'Bremain' names such as Sky, BT Group and TalkTalk should see a rebound, analysts at UBS said.
The trading week in stockmarkets kicked off on a weak note on the Continent, with stocks in the telecommunications arena getting whalloped after a failed merger attempt between between Bouygues and Orange.
Mobile networks are expected to splash the cash in an expensive battle early next year to ensure they keep their share of mobile market in the UK, with the last similar auction drumming up £2.3bn for the government.
Vodafone chief executive Vittorio Colao should step down after Liberty Global walked away from merger talks, telecoms analyst Neil Campling has said, while numerous other consequences could follow.
Nomura upgraded its stance on the European telecoms sector to 'bullish' from 'neutral' on Tuesday.
BT has confirmed reports it has settled on terms of its acquisition of EE from Deutsche Telekom and Orange, saying it will be spending £12.5bn on the UK mobile network.
London shares bounced back on Tuesday in the wake of some long-awaited upbeat economic data in the Eurozone and positive news for UK banks.
Telecoms group BT has entered exclusive talks with Deutsche Telekom (DT) and Orange about buying their mobile operation EE for £12.5bn, the company said on Monday.
UK telecoms group BT could take a step forward in its bid to buy a mobile phone operator on Monday, according to a report.
Telefónica chairman César Alierta reportedly flew to London on Thursday as BT nears a decision over whether to pick up the Spanish company's mobile firm O2 or instead opt for Orange and Deutsche Telekom's EE.
Continuing bid speculation pushed stocks in the telecoms sector higher on Wednesday with heavyweights BT and Vodafone both on the rise.
Germany's Deutsche Telekom and France's Orange have confirmed they are in talks about selling their UK EE mobile phone network to BT.
Telecoms watchdog Ofcom has taken a step towards releasing more bandwidth capacity for ultra-fast broadband and 4G.
Just days after the collapse of mobile-phone retailer Phones 4U, Vodafone and EE have reportedly held talks with the administrator over potential purchases of parts of the company.
Mobile telecoms group EE is to create 1,000 jobs in the UK by bringing back call-centre jobs currently based overseas in an attempt to solve complicated customer queries.