MTU amazed me for years, the did a really good job of...

MTU amazed me for years, the did a really good job of acquisitions and clearly knew how to get synergies and keep customers. Every acquisition and every year I was proven wrong with their SP rises.

That being said, perhaps now is the time. As you mention, when new customers were signing up for broadband there was easy growth. With broadband penetration so high now, its going to get increasingly harder to find new growth IMO. It may signal some price (and margin, ARPU) drops as big players fight for market share.

If I had to buy an ISP at the moment, I would choose from TLS, BGL or TPM at the moment. For different reasons I think they still have some medium term potential. MTU and the smaller players are going to find it tougher and tougher I think.