TELECOMS business Thus last night said it had recommended that shareholders accept Cable & Wireless’ 180p-a-share takeover offer, knocking its share price down a penny to 179p.
London-based C&W confirmed earlier this week that it owned or had acceptances fromthe owners of 78.5 per cent of Thus stock. The Glasgow-based firm yesterday said in response that it acknowledged risks in being a minority shareholder, given C&W’s intention to de-list the firm, and recommended that the remaining shareholders sell up.
British Polythene Industries (BPI) revealed a rise in sales to £265.9 million from £226m in the six months to 30 June, sending its shares up 1.8 per cent to 230p. The rise came despite BPI admitting it had taken a hit from higher costs of raw materials.
