European shares extend gains, telecoms get M&A boost
* FTSEurofirst 300 up 0.2 pct after previous day's rebound
* Altice surges 7.7 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 1049 GMT at 1,608.84 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 7.7 percent after agreeing to buy Suddenlink in a $9.1 billion deal to enter the fast-growing U.S. cable sector. Altice's French rivals Orange and Bouygues fell about 1.5 percent. Continuación...