Last week in telecoms: takeovers of KCom and Forthnet progressing, Tele Columbus makes a recovery

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(Telecompaper) The Telecompaper Stock Index European Telecoms Services was up 1.8 percent in week 27, narrowly beating the EuroStoxx 50 index (+1.6%). Ahead of the Q2 earnings season the news flow was mainly limited to a number of mergers progressing. A diverse set of shares made the biggest gains: Greek challenger Forthnet (+16%), German cableco Tele Columbus (+13%), satellite operator Intelsat (+9.9%) and Spanish convergence operator MasMovil (+8.7%). Forthnet, a penny stock, is closing in on doubling its share price year to date. Tele Columbus is making a remarkable recovery.

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