(Telecompaper) AT&T CEO Randall Stephenson said that he sees a "huge opportunity for somebody" in Europe to invest in mobile broadband and reap the profits already being generated from such services in the US. Stephenson, who was speaking at the ETNO conference in Brussels, said Europe has the potential to be "incredibly exciting". However, the executive said that Europe needs to make big changes to its mobile spectrum policy in order to spur much needed investments in networks, Reuters reports. "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. To realise its potential, Europe needs to overhaul its regulatory policies on spectrum in order, he said. For example, it would be easier for telecom operators in Europe to invest in their networks if they were able to buy long-term spectrum licences and if spectrum policies were similar across the region's different countries. "I know most of the CEOs here and they are pretty smart people who like to earn money for their shareholders. So if the investment case were there they would be doing more," Stephenson said. "There will need to be a regulatory re-think."