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STOCKS NEWS EUROPE-Iliad tumbles as French telco war heats up

Reuters - UK Focus

Shares in French mobile telecoms operator Iliad (Paris: FR0004035913 - news) tumble 6.5 percent as a war between telecoms operators in France heats up, with rival Bouygues (Frankfurt: BYG.F - news) Telecom (Frankfurt: NZT.F - news) 's CEO Martin Bouygues saying in an interview that the firm will offer cut-price fixed-line Internet connections to counter Iliad's offer.

"In an interview with Le Figaro Martin Bouygues declares an official price war with Iliad CEO Xavier Niel in Internet fixed line," a Paris-based trader said.

"This article does not give us much indication whether he is planning to cut costs for the B&YOU low cost or for the mother brand in which case it would create more nuisance to not just Iliad but also to the industry."

Shares in Bouygues (Other OTC: BOUYF - news) are down 2 percent.

Reuters Messaging: blaise.robinson.thomsonreuters.com@reuters.net