Randall Stephenson, Chief Executive at AT&T Inc., said he sees a great opportunity to invest in mobile broadband in Europe. He said there are high chances to gain big profits in the already being generated services in the United States.

Stephenson has been already exploring opportunities for AT&T to expand into Europe. During the time of an industry conference held by ETNO, the European telecommunications lobby, Stephenson said that Europe has the potential to be `amazingly exciting'.

The executive said that there is need to make big changes to its mobile spectrum policy in Europe. He said that in order to encourage the investments in the mobile network in Europe, there is an urgent need to take some initial steps.

"I continue to be fascinated and impressed by how slow mobile broadband is moving in Europe. So I think of this as a huge opportunity for somebody", said Stephenson.

Since, from the beginning of the year, AT&T has been concentrating in the mobile broadband schemes in Europe. AT&T has considered joint venture of Orange and Deutsche Telekom to encourage its business in Europe.

Stephenson said the regulators and investors in the conference that there is an urgent need to repair the regulatory policies on spectrum in Europe so that its potential can be realized and increased.