Telecoms takeover talk helps lift European shares
* Pan-European FTSEurofirst 300 index ends 0.5 pct higher
* Altice surges 11.6 pct on Suddenlink bid, Vodafone also gains
* UBS gets lift after forex probe settlement, fine
* Burberry shares slide on profit guidance cut
By Atul Prakash
LONDON, May 20 (Reuters) - European shares edged higher on Wednesday, extending the previous session's gains, with the telecoms sector getting a big lift from deal-making and takeover talk.
The pan-European FTSEurofirst 300 index closed 0.5 percent higher at 1,613.60 points, adding to gains on Tuesday following speculation the European Central Bank could step up its bond-buying programme.
French telecoms group Altice surged 11.6 percent after it agreed 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 by around 1.5 percent.
"The whole of U.S. cable is a turnaround story. (Altice's) USP is doing turnarounds with leverage. Not without risk, but the value potential is very high," Gary Paulin, founding Partner of Aviate Global, said. Continuación...