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Market Update

Europe Movers: Master Blenders, Tele2, Ziggo

Author: Nigel Thomas
Last Update: 10:11 AM ET March 28 2013

3:00 PM Frankfurt D.E Master Blenders said Benckiser offered 12.75 per share and reported second quarter net surged 31%. Tele2 agreed to sell its Russian business to VTB Group for $2.4 billion and said net profit for the year declined 31% to 3.26 billion. Liberty Global buy 12.65% stake in Ziggo.

In London trading, FTSE 100 index gained 0.7% or 43.1 to 6,431 and in Frankfurt the DAX index rose 0.4% to 31.1 to 7,820.

In Paris, CAC 40 index increased 0.8% or 29.5 to 3,741.

D.E Master Blenders 1753 NV surged 27.4% to 12.23 after the Netherlands based coffee and tea maker approached by Joh. A. Benckiser, led investor group offered 12.75 a share on a fully diluted basis.

In a separate statement, the coffee maker reported net revenue for the second quarter in December fell 2% to 1.34 billion. Profit for the second quarter surged 31.4% to 92 million compared 70 million. Earnings per share for the quarter were 0.15.

Total segment sales in the second quarter rose 2.2% to 705 million.

Tele2 AB is a Sweden-based company climbed 10.6% to 138.50 kronor agreed to sell Tele2 Russia to VTB Group in a cash transaction comprising $2.4 billion.

Tele2 expects to achieve compounded annual revenue growth for the group between 5% and 7% up to 2015 and expecting to at least 35.6 billion kronor.

In a separate release Tele2 reported net sales for the year in December jumped 6.7% to 43.73 billion kronor. Net profit for the year declined 31% to 3.26 billion kronor compared 4.75 billion kronor. Earnings per share for the quarter were 7.30 kronor from 10.65 kronor.

Ziggo NV soared 12.2% to 27.26 after the Netherlands based cable television operator reported Liberty Global Inc. acquired 12.65% stake valued 632.5 million or $807 million in the company from Barclays Plc.

Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc