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FRANKFURT

GERMAN shares rose more than 2 per cent, driven by strong gains in Deutsche Telekom, which was reported to be considering buying a stake in Singapore Telecom. The DAX-30 2.15 per cent up at 5,127.43.

Deutsche Telekom rose 4.98 per cent after business magazine Wirtschaftswoche said it had begun talks on buying a stake of 20 per cent or more in Singapore Telecom. Telekom did not comment, but analysts said they would not be surprised by a string of modest moves before a major acquisition.