European shares steady ahead of Fed decision on rates
* FTSEurofirst and Euro STOXX 50 both steady
* Fed rate decision due at 1800 GMT
* M&A resurfaces with Altice and Phoenix
* Spanish banks lifted by broker upgrades
By Danilo Masoni
MILAN, Sept 17 (Reuters) - European shares were steady on Thursday with many investors refraining from taking up big positions as they awaited a U.S. Federal Reserve decision on whether to lift interest rates for the first time since 2006.
The pan-European FTSEurofirst 300 index and the euro zone's blue-chip Euro STOXX 50 index were both trading almost flat.
Despite the caution ahead of the Fed's decision, due at 1800 GMT, dealmaking activity resurfaced driven by large piles of corporate cash and expectations that acquisitions will not get cheaper.
"Liquidity makes possible the impossible," Ifigest fund manager Roberto Lottici said. "Yet the global economy battles to grow and the best thing the Fed can do is keep rates steady, but clearly set the path for a hike in the coming months." Continuación...