Kingston takeover stalled?

3 Mar 2006

A planned takeover of UK operator Kingston Communications by US private equity firm Carlyle has stalled over a disagreement concerning the value of the company, according to the Financial Times. The Hull-based telco announced in November that it had received an approach about a possible bid. At that time Kingston declined to name the potential bidder, though it was later revealed as Carlyle. The US group is understood to be offering up to GBP0.85 a share, which would value the operator’s equity at GBP437 million.

United Kingdom, KCOM