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John McClellan, Monitor's head of telecommunications, concluded that the venture could work.
"There's every reason to be there financially," Digby Gilmour, head of telecommunications and media research at C.L.S.A. Australia, said.
Morgan Stanley, in a statement, said Mr. Pereira "is and remains head of telecommunications investment banking" in Europe.
Prior to Rothschild, Larry served as the co-head of Technology, Media and Telecommunications at Lazard and the global head of Telecommunications at Credit Suisse.
"All the multinationals face a lot more pressure compared with local companies," Elinor Leung, the head of telecommunications and Internet research at CLSA in Hong Kong, said in January.
Gene Sykes, managing director at Goldman, and Christopher Lawrence, head of telecommunications investment banking at Credit Suisse, have been advising Mr. Armstrong since he was chairman of Hughes Electronics before joining AT&T in 1997.
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Other issues are still unresolved, and while a delay because of market conditions is understandable, a failure to straighten out the legal issues will not be, said Judith D. O'Neill, head of the telecommunications practice at Thelen Reid & Priest in New York, who has worked extensively on African telecommunications privatizations.
Adam Quinton, head of global telecommunications research at Merrill Lynch, talked last week about the industry.
In 2007, gunmen tried — first with firearms, then with a mortar attack on his car — to kill Anton Berisha, the head of the telecommunications regulatory agency.
Chris Lawrence, whom Credit Suisse First Boston hired earlier this year from Salomon Smith Barney as head of its telecommunications banking group, will keep the title in the combined company.
James Attwood, Carlyle Managing Director and Head of the Telecommunications and Media team, said, "Peter is a seasoned executive who has run several important media businesses and understands how to create value.
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