  An information-theoretic analysis of a multi-keyhole channel, which includes
a number of statistically independent keyholes with possibly different
correlation matrices, is given. When the number of keyholes or/and the number
of Tx/Rx antennas is large, there is an equivalent Rayleigh-fading channel such
that the outage capacities of both channels are asymptotically equal. In the
case of a large number of antennas and for a broad class of fading
distributions, the instantaneous capacity is shown to be asymptotically
Gaussian in distribution, and compact, closed-form expressions for the mean and
variance are given. Motivated by the asymptotic analysis, a simple,
full-ordering scalar measure of spatial correlation and power imbalance in MIMO
channels is introduced, which quantifies the negative impact of these two
factors on the outage capacity in a simple and well-tractable way. It does not
require the eigenvalue decomposition, and has the full-ordering property. The
size-asymptotic results are used to prove Telatar's conjecture for
semi-correlated multi-keyhole and Rayleigh channels. Since the keyhole channel
model approximates well the relay channel in the amplify-and-forward mode in
certain scenarios, these results also apply to the latter
