A diversity receiver (60) has two diverse channels fed by the antennas, an adaptive equalizer (20,30) for each channel and a coefficient adapter (40) for adapting two sets of coefficients in a time shared manner for the equalizers. A combiner combines the equalized signals. By sharing one adapter for adapting the coefficients between two or more equalizers, the calculation load can be reduced. This is useful for small mobile terminals powered by battery, for use with GSM or UMTS or other radio networks. It can be applied to any type of equalizer, and using any manner of time sharing. The combiner can exploit any type of diversity between the equalized signals. The equalizers can output two equalized signal values in consecutive time slots, by reusing the same coefficients, while new coefficients are being calculated.