Thus - the Scottish telco behind the Demon ISP - is still on the lookout to acquire new businesses.

Or, as the company so eloquently put it in a trading update today: "We are continuing to explore opportunities to create additional value for shareholders from acquisition opportunities but only if this offers the potential to accelerate our strategy and business plan to secure our long-term objective of a return on capital employed greater than our cost of capital."

Bouncing back from this rejection Thus remains keen to spend its cash growing the business. William Allan, chief exec of Thus, also noted that despite tough market conditions the business is still doing okay and "expects to achieve positive operating profits (EBIT) during the second half of this financial year".

Shares in Thus rose 0.23p (1.64 per cent) to 14.23p by mid-morning coffee break. ®

Related stories

• Thus turns a profit (20 November 2006)
• Cheeky BT tries to poach 'displaced' C&W punters (9 March 2006)
• Thus acquisition of Your Comms gets green light (24 February 2006)
• Thus to axe 280 jobs (2 February 2006)
• Demon scores broadband ton (21 November 2005)
• OFT OKs C&W's Energis buy (25 October 2005)
• Legend ISP is takeover target (3 October 2005)
• Demon broadband disquiet grows (30 September 2005)
• 60 jobs under threat at Thus (31 August 2005)
• C&W wins mating dance with Energis (16 August 2005)
• Energis rubbishes Thus bid (15 August 2005)
• Thus throws hat into Energis ring (15 August 2005)
• Thus TUPEs IT jobs to Computacenter (10 August 2005)
• Thus upbeat about future (27 July 2005)
• Demon jobs on line at Glasgow tech support (6 April 2005)
• Thus cautious on outlook (31 March 2005)