The newest data on the German economy has revealed that it is growing faster than had been expected by analysts.
Traditionally the powerhouse of Europe economically, Germany has been struggling in the last few months as a result of the ongoing economic crisis.
However, the latest figures show that its economy rose by 0.7 per cent in the second quarter of the year, which was slightly ahead of forecasts.
Speaking to BBC News, Carsten Brzeski, an economist at ING, stated that this is an impressive comeback for Germany, which has seen its economy stagnate in recent months.
"Despite very favourable financing conditions and [the] strong international positions of many German companies, domestic investment has been sluggish for a longer while," he said.
German firm E-Plus, which currently has a 15 per cent stake in the German mobile market, is the subject of a takeover bid from America Movil, which is the largest mobile phone operator in Latin America, at the moment.
The company, owned by the world's richest man Carlos Slim, wants to buy the 70 per cent it does not currently own of the Dutch telecoms firm KPN, owner of E-Plus.
Find up to date information on the FTSE 100 and spread betting strategies at City Index
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.