European Movers: Telecom Italia (TIT IM) +5.3%, Delivery Hero (DHER GY) +1.0%, Danone (BN FP) -0.9%, Volkswagen (VOW3 GY) -1.4%, Rhienmetall (RHM GY) -2.3%, Poste Italiane (PST IM) -3.5%

Danone (BN FP) - Co. is to acquire Huel; price not disclosed.

Delivery Hero (DHER GY) - Delivery Hero entered into a share purchase agreement for the sale of its foodpanda business in Taiwan to Grab Holdings. Purchase price amounts to USD 600mln on a cash and debt free basis

Poste Italiane (PST IM) / Telecom Italia (TIT IM) – Poste Italiane has launched a EUR 10.8bln bid for Telecom Italia. 

Rheinmetall (RHM GY) - Rheinmetall plans to take over the delayed F126 frigate project for the German Navy and expects to win the  general contractor role this summer, Welt am Sonntag reports. The company aims to accelerate production and deliver the first of  six planned frigates in H2 2031. (Sonntag)  

Volkswagen (VOW3 GY) - Volkswagen CEO Blume said restructuring will continue despite a rising order backlog, according to Bild. He said VW is applying clear manufacturing cost targets across plants in Germany, Europe and China to avoid costly overcapacity. (Bild)