Mobistar shares hit 11-year low after warning, dividend cut

BRUSSELS, July 22 Mon Jul 22, 2013 3:34am EDT

BRUSSELS, July 22 (Reuters) - Shares in Mobistar hit an 11-year low on Monday after the Belgian telecoms operator warned of sharply lower earnings this year and suspended its 2013 dividend.

The shares fell as much as 31.4 percent to 10.82 euros, its lowest level since July 2002.

"After today's likely share price fall, Mobistar is becoming more and more an M&A target. In our opintion, the two most logical buyers would be France Telecom and Telenet," said ING analyst Emmanuel Carlier in a research note.

Mobistar is already majority-owned by France Telecom, which is now called. (Reporting By Philip Blenkinsop)

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