CABLE & Wireless said yesterday that more than 70 staff have left the group following its acquisition of Glasgow-based Thus, as it trimmed the number of redundancies it expects from the deal.
MORE than 120,000 shareholders in Thus have accepted the 180p-a-share takeover offer from Cable & Wireless, which analysts said was now a done deal.
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THUS, the Glasgow telecoms group, grudgingly moved towards a takeover yesterday after industry giant Cable & Wireless upped its offer to 180p-a-share, or some £329 million, and bought a major stake in the Scots business.
CABLE & Wireless is expected to announce today that it plans to make an improved bid for Thus, the Glasgow-based telecommunications supplier.
TWO Telecoms firms have emerged as possible "white knights" in the battle by Glasgow-based Thus to fend off an unwanted £302 million bid from Cable & Wireless. Global Crossing and Colt Telecom have reportedly contacted Thus's banking adviser, although no proposals have been tabled.
BILL Allan, the head of Scottish telecommunications company Thus, still has not spoken publicly about the approach for the company he has headed for the past decade – but if a battle does begin, he is unlikely to go quietly.
THUS, the Scottish corporate telecoms provider, last night urged shareholders to sit on their hands after FTSE-100 giant Cable & Wireless announced it may bid for the company.
THUS, the Glasgow telecommunications group, is just months away from revealing its first-ever operating profit, it confirmed yesterday.
THUS, the Glasgow-based telecommunications group, has said it is on track to make at least £27 million in synergy savings from its acquisitions of Your and Legend communications by the end of this year.
THUS, the Scottish business-focused telecoms group, has renegotiated its bank facility to provide additional funds to tender for larger contracts.
SCOTTISH business telecoms group Thus has consolidated its business in the north-west of England by yesterday opening a new office employing 300 at Sale in Lancashire.
THUS chief executive, Bill Allan, said the telecoms provider has reached a transition point, with sales of next-generation services outstripping legacy business for the first time.
UNITED Utilities will listen to offers for its stakeholding in Thus from next month in a move which will prompt speculation about a bid for the Scottish telecoms group.
JOHN de Mol, the billionaire creator of TV show Big Brother, has bought a 3% stake in Scottish telecoms group Thus in what is thought to be his first investment in the British telecoms sector.
SCOTTISH telecoms company Thus today forecast that it would make an operating profit next year.
SCOTTISH telecoms group Thus has appointed Rick Medlock, the chief financial officer of Inmarsat, the mobile satellite services company, as an non-executive director with immediate effect.
THUS, the Scottish corporate telecoms supplier, yesterday landed a notable deal with Highland Council, which will see it install and manage all broadband links to the authority's schools, libraries and other council buildings throughout the Highlands and Islands.
THUS, the Scottish telecoms provider, has reduced its annual operating losses by almost half to £20.8 million, from £37.7m the year before.
THUS, the Scottish telecoms supplier, has seen stronger demand for next-generation web-based services balance declines in traditional voice offerings.
THUS - the Glasgow telecoms group - has been linked once again to a takeover of the struggling UK arm of Cable & Wireless, a move that would transform the firm into the second-biggest telecoms group in the UK.