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BUZZ-DS Smith: top UK mid-cap on Grupo Lantero buy

Reuters - UK Focus

** British packaging co DS Smith (Other OTC: DITHF - news) top FTSE 250 riser & up c.4 pct as it agrees to buy Spanish company Grupo Lantero's corrugated products business for about 190 mln euros

** Acquisition, which includes several operations in which DS Smith currently has a minority interest, will give it an about 10 pct market share in Spain

** DS Smith's FY reported revenue fell 5 pct, mainly due to the impact of the weaker euro

** "Despite FX headwinds, we expect unchanged FY16 consensus estimates, with benefit of further volume growth and part year contribution of accretive 190m Grupo Lantero acquisition," analysts at Jefferies write in a note (RM (LSE: RM.L - news) : aastha.agnihotri.thomsonreuters.com@reuters.net)