C&W increase bid for Thus
By Henry Tyler
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Posted 30 June 2008 @ 10:49 am GMT
Cable & Wireless said on Monday that it had increased its bid for fellow telecoms company Thus to £329 million, valuing the company at 180 pence per share. Thus have already rejected a bid worth 165 pence per share, on the grounds that it was too low.
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bid cable thus wireless
Global Radio increases bid for GCapCable & Wireless also said that it had acquired a 24 per cent stake in Thus.
Thus said it would put the offer to its shareholders but added that the offer was "not such a compelling proposal" that they would recommend that shareholders accept it.
Thus said, "The Thus Board considers that this improved offer represents a proposal worthy of consideration by shareholders in the absence of a better proposal."
Shares in Thus increased on Monday, reaching 174 pence per share by 8:45 am.
This article is copyrighted by the International Business Times.
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