PARIS, May 28: European shares were flat on Monday in thin volumes and struggling for direction with many major European markets as well as Wall Street closed for public holidays.

Markets in Britain, Germany and Switzerland were closed, while French, Spanish, Italian and Swedish bourses were open. France Telecom climbed 0.5 percent after the country's biggest telecoms operator announced a formal review of bids for part or all of its Orange unit in the Netherlands.

French aerospace and telecoms equipment firm Safran added 3.3 per cent after the company said it plans to split up its Sagem communications unit in a move that could pave the way for an asset sale. France's CAC 40 index shed 0.1 per cent, while Spain's IBEX 35 rose 0.1 per cent.

Shares in Nordic markets owner OMX surged 6 per cent to 211.5 crowns after UK newspaper the Sunday Times said Dubai International Financial Centre, the owner of the Dubai stock exchange, is mulling a rival bid to Nasdaq's agreed $3.7 billion offer for OMX.—Reuters