Feeds

C&W closes in on Thus acquisition

Shareholders asked for thumbs-up

Internet Security Threat Report 2014

Cable and Wireless has increased its offer for smaller rival telco Thus Group, as it bids to gain weight for its battles against BT for big business contracts.

C&W's surprise first 165p per share offer for Glasgow-based Thus was rejected by its board early in June.

Today's improved 180p per share bid values Thus at about £330m. Its directors have agreed to put the offer to shareholders this time, but have stopped short of recommending they accept it, saying: "The offer is not such a compelling proposal that the Thus board could give a recommendation to Thus shareholders to accept the offer at this time."

C&W boss Richard Lapthorne said in a statement: "Today's offer represents a generous premium of 64 per cent to Thus' share price before our approach and, we believe, is an attractive proposal for Thus shareholders which unlocks significant value."

Ahead of the shareolders' vote, C&W has gone ahead buying up Thus shares in the open market, and said this morning that it already owns 29.9 per cent of its target. ®

Beginner's guide to SSL certificates

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.