Europe shares rise as FedEx/TNT bid feeds M&A fever

martes 7 de abril de 2015 12:26 GYT

* FTSEurofirst 300 ends 1.6 pct higher

* TNT up 28 pct after Fedex bid

* France's CAC, Italy's MIB, Spain's IBEX hit multi-year highs

By Francesco Canepa and Blaise Robinson

LONDON/PARIS, April 7 (Reuters) - European shares rose on Tuesday as FedEx's 4.4 billion euro ($4.8 billion) bid for Dutch package delivery firm TNT Express prompted a rally in the shares of other postal companies.

TNT stock jumped 28.1 percent, while PostNL -- TNT's largest shareholder -- surged 12.4 percent. PostNL has said it would sell its 14.7 percent stake to FedEx.

Royal Mail, Deutsche Post and Kuehne & Nagel gained 1.3-2.6 percent.

"The price seems fair based on our EVA (economic value added) acquisition model," analysts at ING wrote in a note, adding the deal could allow PostNL to pay a dividend in 2016.

Further evidence of corporate takeover activity came from French media group Vivendi's offer to buy Orange's video-sharing website Dailymotion. The two stocks gained 1.2 percent and 0.9 percent respectively.   Continuación...