A review of the financials of six European operators shows positive interim results and warm investor sentiment, but a muted outlook for growth means the companies will have to work harder to reduce operating costs and find profitable M&A. The great colossus of the European telecommunications market, Deutsche Telekom (DT), reported positive third quarter results last week and revised its guidance up a smidge. In the third quarter, DT saw a slight increase in revenue to €27.6 billion, though the main increase was in EBITDAL (earnings before interest, tax, depreciation, amortization and leases) which grew 6.2% to nearly €10.5 billion. Strong activity in the US led DT to raise its full year EBITDAL guidance for the group to €41.1 billion,…