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Glance-STOCKS NEWS EUROPE-Sonaecom spikes as Zon merger talk returns
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15:00GMT 19March2009-Sonaecom (Lisbon: SNCAE.LS - news) spikes on Zon merger talk
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Stocks in Portugal's Sonaecom, which controls telecommunications
operator Optimus (Paris: FR0010312181 - news) , spike 8.5 percent to 1.378 euros on fresh talk of a possible
merger with Zon Multimedia after CEO remarks suggesting Sonaecom is
open to broad partnerships.
'The issue of linking up with Zon is on the table again. The signals given
by Sonae, although not new, come to reinforce the prospects that Sonaecom may
become invoilved in some sort of a merger, Zon being the strongest candidate,'
says one trader.
Zon stocks rise 4.6 percent to 3.97 euros.
Sonaecom CEO Paulo Azevedo said on Wednesday his company is open to
partnerships and could hold minority stakes.
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