* Green light received with no major surprise on remedies
* The deal could close in one month
* Good Q3 results confirm a favourable market shift to superfast broadband (SFBB)
* Just the beginning
...we expect Numericable to continue consolidating the market and buying Bouygues Tel. for EUR6.5bn, which would create EUR9/share of value. We reiterate our Outperform rating with a EUR52 target price.
see full note attached