Orange, Deutsche Telekom shares rise on report of 2017 merger talks

LONDON: Shares in France's Orange and Germany's Deutsche Telekom were boosted on Monday by a report in French daily Le Monde that the two telecoms firms held merger talks between May and September 2017 last year, traders said.

At 1414 GMT, Orange shares were up 2.2 percent, at the top of France's CAC 40, while Deutsche Telekom rose 2.5 percent to the top of the DAX.

The report said there were "confidential discussions" held between the two companies examining the options for a "merger of equals".

Telecoms stocks across the region traded higher, with the industry's index up 1.6 percent, leading sector gains.

Deutsche Telekom and Orange declined to comment on the report.