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European equities trade near one-month low, telecoms slump

Reuters
The German share prize index (DAX) board and the trading room of Frankfurt's stock exchange (Boerse Frankfurt) are photographed during afternoon trading session in Frankfurt, Germany, February 23, 2016. REUTERS/Kai Pfaffenbach/Files

LONDON (Reuters) - European shares fell to near a one-month low on Monday, with telecom shares slumping after talks between Orange and Bouygues on a deal to create a dominant French telecoms operator collapsed.

The STOXX Europe 600 Telecommunications index fell 2 percent, the top sectoral decliner, following the failure on Friday of the proposed 10 billion euro ($11.4 billion) cash-and-share deal.

Shares in Orange fell 6.8 percent, Bouygues slumped 15.7 percent, Iliad fell 14.5 percent and SFR dropped 16.5 percent.

The pan-European FTSEurofirst 300 index was down 0.2 percent in early trading after falling 1.5 percent to a one-month low in the previous session.

(Reporting by Atul Prakash; Editing by Catherine Evans)