Great Britain’s first ever telecoms company formerly Kingston Telecoms known as ‘The KCOM Group’ has been sold for £504 million after an offer from Humber Bidco Ltd, a subsidiary of the Universities Superannuation Scheme.
KCom is a well known major tier 1 carrier that was originally formed in 1912, then it known as Kingston Communications anyone in the Hull/Kingston area is with KCom usually & not BT.
The Universities Superannuation Scheme is a UK pension scheme for universities and other higher education institutions.
The company has paid 97 pence per share, reflecting a 34% premium to KCOM’s closing price of 72.5 pence on Tuesday.
Interim Chair Patrick De Smedt. said “The board believes that the offer of 97p per share represents a compelling opportunity for shareholders to realise an attractive cash value in respect of their shares and recognises the quality of KCOM’s businesses and the strength of their future prospects. For all these reasons, the board unanimously recommends that shareholders accept the offer.”
08UK has never actually worked with Kcom but we have met with them & we have ported plenty of 08/03 numbers from them & their resellers over the years.
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