European shares edge up but French telecom stocks slump| MENAFN.COM

Wednesday, 01 February 2023 03:13 GMT

European shares edge up but French telecom stocks slump

(MENAFN- Saudi Press Agency) European shares edged higher on Wednesday, consolidating gains made this week on expectations of a Greek debt deal, although French telecoms stocks slumped after Bouygues shunned Altice's bid for its telecoms arm, Reuters reported.

The pan-European FTSEurofirst 300 index rose 0.2 percent, while the euro zone's blue-chip Euro STOXX 50 index advanced 0.1 percent.

However, shares in Bouygues fell 8.2 percent after the conglomerate's rejection of the Altice offer for its telecoms division.

Altice slid 7 percent, while shares in Numericable-SFR - which is owned by Altice - also slumped 12 percent. Shares in French rivals Orange and Iliad also weakened by 3.4-6.2 percent.

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