European shares fall as worries over Greece offset M&A fever

martes 14 de abril de 2015 12:32 GYT
 

* FTSEurofirst 300 down 0.5 pct, peripherals most hit

* Alcatel surges, Nokia slips on tie-up news

* Greece denies it is preparing for a debt default

By Blaise Robinson

PARIS, April 14 (Reuters) - European stocks fell on Tuesday as renewed worries over Greece offset news of a tie-up between Nokia and Alcatel-Lucent.

A rebound in the euro during the session also prompted investors to book recent gains on the shares of exporters. Luxury goods maker LVMH fell 2.5 percent and airplane maker Airbus lost 2.6 percent.

Shares in the French telecom gear maker Alctel surged 16 percent after the two companies announced they were in advanced talks for Nokia to take over Alcatel. Nokia shares were down 3.6 percent.

Clairinvest fund manager Ion-Marc Valahu expressed scepticism over the merits of the proposed deal.

"They are two of the weaker players in the industry. They could come up with some cost cuts, but just because you combine one weak player with another weak player does not necessarily mean that you will end up with a stronger player," Valahu said.   Continuación...