Forrester Research: Incumbent telcos will fend off VoIP attackers.

"According to the hype, VoIP pure plays like Skype and Vonage are about to both change and take over the telecom industry. While Forrester agrees that the pricing of telecom services will continue to undergo dramatic change in the years to come, we think that pure plays have no chance of dethroning proactive European incumbent telcos from their consumer fixed voice market leadership. Currently, 70% of Europeans don't know about VoIP — and only 1% use it for nearly all their calls from home. Coupled with relatively low broadband take-up, European consumer VoIP adoption will move slowly."