Cable & Wireless buys Thus

Cable & Wireless buys Thus

Summary: The deal, first suggested in May, combines both communications firms' next-generation networks

TOPICS: Networking

Cable & Wireless has bought the Thus Group, after the Office of Fair Trading cleared the acquisition in mid-September.

On Wednesday, Thus issued a statement in which it said the offer of 180p per share — representing a total deal worth £329m — had been unconditionally accepted. The company is now known as 'Thus, a Cable & Wireless business'.

Cable & Wireless first approached Thus in May to discuss a possible takeover. The deal brings together the two communication companies' next-generation networks, and adds Thus's mobile-connectivity portfolio to Cable & Wireless's roster.

In a Wednesday statement announcing the acquisition to the London stock market, Cable & Wireless called the deal "an exciting milestone in the history of telecommunications", and said it made Cable & Wireless "an even stronger challenger to BT".

Topic: Networking

David Meyer

About David Meyer

David Meyer is a freelance technology journalist. He fell into journalism when he realised his musical career wouldn't pay the bills. David's main focus is on communications, as well as internet technologies, regulation and mobile devices.

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