Thus recommends shareholders take current C&W offer

2 Sep 2008

Despite an initial unenthusiastic reception, Scottish telco Thus has recommended its shareholders accept a GBP1.80 per share offer from Cable & Wireless (C&W), online news source The Register is reporting. British telco C&W originally offered GBP1.65 a share for the company, upping the offer to GBP1.80 in June 2008 after rejection of its first proposal. Despite the increase, the Thus board still indicated its belief that the Scottish operator was worth GBP2.52 a share. Since then C&W has revealed that it already owns, or has an agreement to buy, 78.5% of Thus, prompting reconsideration by the board. The new offer is open until 9 September.

United Kingdom, Cable & Wireless (UK), Thus