LONDON (Reuters) - Shares in French telecoms company Orange rose to a 2-1/2 year high on Monday, with traders citing talk of a possible bid from German rival Deutsche Telekom.
Orange’s stock closed 1.8 percent higher at 12.81 euros ($17.44) by 11:30 a.m (1530 GMT), its highest level since December 2011.
An Orange spokesman declined to comment. Deutsche Telekom was not immediately available for comment.
Deutsche Telekom’s chief executive Tim Hoettges told shareholders last month the group was not in any talks about a potential merger.
($1 = 0.7345 Euros)
Reporting by Francesco Canepa; Additional reporting by Sudip Kar-Gupta, Harro Ten Wolde in Frankfurt; Editing by Lionel Laurent and Jane Merriman