PeriodicsurgesofintenseIranianeconomicnationalismmustbeunderstoodpartlyas a reaction to the closerelations betweenBritishbusinessinIranand the Britishgovernment.
That surely will rank as one of the most important moments in the history of government-business relations -- yet, in a sign of the times, it is almost a footnote to all the other giant events of the period.
Politically, however, selling Telecom Italia to a foreign company is probably still unacceptable. (Only one European telecoms incumbent, Sonera of Finland, has ever fallen into foreign hands.) Because Telecom Italia's profits in both its fixed-line and its mobile business depend on regulation, good relations with the government are crucial.