Telenet, KPN lead European shares higher after Belgian deal
* FTSEurofirst 300 up 0.6 pct
* Telenet, KPN lead rise after Belgian deal
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By Francesco Canepa
LONDON, April 20 (Reuters) - European shares edged higher early on Monday, led by the telecoms sector after Telenet's move to buy KPN's mobile telephony unit in Belgium.
Belgium's Telenet, a subsidiary of cable company Liberty Global, rose 4 percent after agreeing to acquire KPN's BASE Company for 1.33 billion euros ($1.4 billion), sending shares in the Dutch firm up 2.4 percent.
The deal will create a stronger operator in Belgium's mobile market as fixed and mobile telecom services converge, with estimated sales of 2.4 billion euros and adjusted operating earnings of 1.1 billion euros, Telenet said in a statement.
"It seems pretty good for both," Michael Bishop, an analyst at RBC Capital Markets, said. "A slightly higher price for KPN than had been speculated and slightly better synergies compared to market expectations for Telenet." Continuación...