Spanish Stocks Gain, Led by Telefonica, Iberia; Portugal Telecom Gains

(Bloomberg) -- Spanish stocks including Telefonica
SA rose. Bankinter SA paced falling shares after the bank
reported profit that missed analysts' estimates.

Portugal Telecom SGPS SA climbed in Lisbon after Dresdner
Kleinwort recommended buying the shares.


Read more at Bloomberg Stocks News

Telefonica in 3 bln euro Vivo offer-report

(Reuters) - Additionally, Alierta said he did not rule out taking
control of Telecom Italia , Italy's largest telecoms
company.




Telefonica has told Portugal Telecom to respond to the offer
by August.


Read more at Reuters.com Mergers News

EU letter paves way for T.Italia-Telefonica deal

(Reuters) - By Robert Hetz and David Lawsky



MADRID/BRUSSELS, June 13 - The European Commission has cleared the way for investors including Telefonica to buy control of Telecom Italia by telling them Brussels has no authority in the matter, a letter showed.


Read more at Reuters.com Government Filings News