Kingston takeover talks collapse

4 Apr 2006

A planned takeover of UK operator Kingston Communications by an unnamed suitor (widely thought to be US private equity firm Carlyle) has collapsed over a disagreement concerning the value of the company. The Hull-based telco announced in November that it had received an approach about a possible bid, though it declined to name the potential bidder. The suitor is understood to have offered up to GBP0.85 a share, which would value Kingston’s equity at GBP437 million (USD763 million). But Kingston says the talks are now off, after the parties had ‘failed to agree on price and structure’.

United Kingdom, KCOM