C&W confirms approach for Thus

29 May 2008

Cable & Wireless (C&W) has approached Thus Group about a possible bid for the company. It said, however, that the move was not necessarily a firm intention to make an offer. Thus, which provides fixed and wireless services to mainly the business and public sector, is currently unprofitable, and its share price had fallen more than 30% in the last year. Shares have since rebounded 20% following C&W’s interest. If a bid is forthcoming, it is widely believed that it will be in the region of GBP275 million (USD544 million).

United Kingdom, Cable & Wireless (UK), Thus