European shares extend gains, telecoms get M&A boost

miércoles 20 de mayo de 2015 04:04 GYT

* FTSEurofirst 300 up 0.2 pct after previous day's rebound

* Altice surges 7 pct on Suddenlink bid, Vodafone also gains

* UBS gets lift after forex probe settlement, fine

* Burberry shares slide on guidance cut

By Lionel Laurent

LONDON, May 20 (Reuters) - European shares edged up slightly on Wednesday after rebounding strongly in the previous session, with the telecoms sector getting a big lift from deal-making and takeover talk.

The pan-European FTSEurofirst 300 index was up 0.2 percent at 0735 GMT at 1,609.40 points, holding on to Tuesday's gains driven by speculation the European Central Bank's bond-buying plan could be rolled out more aggressively than expected.

"European equities are trading little changed this morning... It wouldn't come as too much of a surprise if stocks take a bit of a breather," said Markus Huber, senior sales trader at Peregrine & Black.

French telecoms group Altice surged 7 percent after agreeing to buy Suddenlink in a $9.1 billion deal to enter the fast-growing U.S. cable sector. Vodafone was up 3.8 percent after Liberty Global's chairman was quoted as saying it would be a "great fit".   Continuación...