Monday, April 30, 2007

European Telecommunications Stocks Gain; Wereldhave, Property Shares Drop

(Bloomberg) -- European telecommunication stocks advanced after Telefonica SA and a group of investors agreed to pay 4.1 billion euros ($5.6 billion) for a controlling stake in Telecom Italia SpA, Italy's biggest phone company

Wereldhave NV led a slide by property companies slid after JPMorgan Chase & Co. downgraded the industry on concern higher interest rates will hurt earnings.


Read more at Bloomberg Stocks News

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