I haven't received payment fo my KCOM shares, anyone else still waiting ?
RNS - Cash aquisition That’s it. KCOM have ceased trading - bye bye. Remember when the sp was £13
RNS - Cash aquisition Vote passed by 99pc
RNS - Cash aquisition Afraid that’s shady business for you!
RNS - Cash aquisition Interested to see how may shares Mr Sutherland acquired after he announced the poor results last Nov. Then of course he puts kcom up for sale and gets a whopping profit without even publishing the review.
RNS - Cash aquisition Macquarie’s MEIF 6 Fibre unit to buy UK telecoms firm KCOM By Reuters• last updated: 12/07/2019 - 20:13 (Reuters) – Macquarie unit MEIF 6 Fibre Ltd is to buy KCOM Group Plc <KCOM.L> in a deal that values the British telecoms company at 627 million pounds, ending a bidding war with a UK pension fund. The high value of the deal reflects the appeal of KCOM’s prized full-fibre network, an attractive asset to firms looking to build a presence in the sector without spending on new infrastructure roll-out. Macquarie funds have been investors in critical telecom infrastructure since the early 2000s, including investments in European players Arqiva, Poland-based INEA and Denmark’s TDC. Founded in 1899 as the telephone department in Hull Municipal Corporation, KCOM now offers managed network and cloud-based services across the United Kingdom. It provides telecom services in Hull, a port city in East Yorkshire, the only British region where larger rival BT <BT.L> does not have a presence. Britain’s takeover regulator said last week it would auction KCOM after the Humber Bidco unit of British pension fund Universities Superannuation Scheme Ltd (USSL) and MEIF 6 Fibre failed to make a final offer for the company. The Takeover Panel, which regulates merger and acquisition activity, rarely auctions companies, though it intervened in last year’s battle between Comcast and Twenty-First Century Fox <DIS.N> to buy broadcaster Sky. MEIF offered 120.3 pence per KCOM share in the final day of the five-day auction, while USSL bid 113 pence, the companies said in separate statements later confirmed by the regulator. KCOM said it found MEIF’s offer to be fair and reasonable, and recommended shareholders to vote in favour of it. USSL unit Humber Bidco’s final offer valued KCOM at 589 million pounds. The company had already withdrawn a recommendation for USSL’s offer before the takeover regulator intervened and announced that the competitive nature of the bids meant there would be an auction process. KCOM issued a profit warning last year after a slew of management changes, including the departure of its chief executive and finance chief. Former BT Plc <BT.L> executive Graham Sutherland was appointed CEO in October and announced a review of KCOM’s business strategy a month later. MEIF had intended to offer 108 pence per share for KCOM in June, 11 pence above the offer submitted by Humber Bidco, and had initially valued the company at 563 million pounds.
RNS - Cash aquisition If that’s the winner then well done to the shareholders and staff who are in the sharesave scheme.
RNS - Cash aquisition Final bid Macquarie at 120.8…glad I hung on!
RNS - Cash aquisition I guess you meant final offer ? Well they’ve been diddle dallying with parts of pennies all week. The shareholders and staff deserve better
RNS - Cash aquisition As I understand it the highest bidder at the end of today gets the prize. There are some massive sells today across lunch time (24 mil approx) so perhaps a funal offer to trump all others is not expected!
RNS - Cash aquisition So what happens after today then ? Is the winner the company that takes over or is there another twist.
RNS - Cash aquisition We’ll see what the final day (Friday) brings, maybe should have sold at 116p. We’ll see!
RNS - Cash aquisition USSL and Macquarie backed MEIF6 have been upping their bids day by day. Today MEIF6 increased to 110.8 after USSL increased their bid to 110 yesterday.
RNS - Cash aquisition UK’s takeover panel to auction telecom company KCOM (Reuters) - Britain’s takeover panel said on Thursday July 4th it will begin an auction for the sale of telecom network and cloud-based service provider KCOM Group Plc (KCOM.L) as its prospective buyers did not make a final offer. Macquarie-backed MEIF 6 Fibre Limited had intended to offer 108 pence per share for the company in June, 11 pence higher than that submitted by Humber Bidco, owned by British pension fund Universities Superannuation Scheme Ltd (USSL).
RNS - Cash aquisition Well it will please the KCOM staff if bid comes in after bid as their company shares value will increase. It’s getting a bit mercenary now as far as I’m concerned. Highest bidder will get it even if they’re not as good a company as the first.