The US press and the financial analyst community seem to think that the US cellular market is too competitive to make any real money – this is why they anticipate with salivating jaws the merger of T-Mobile and Sprint, which they think will ease the competitive pressure on AT&T and Verizon. However, the one thing that the US Justice Department is unlikely to stomach is a reduction to three national cellular operators in the US. As in Europe, there is likely to be a clash of interests, between the regulators trying to keep competition vibrant, and the mobile operators which need consolidation because they have stopped growing. The resistance to a reduced number of MNOs prevented AT&T buying T-Mobile USA,…