C&W takes control of Thus

Telco Cable & Wireless has announced it has taken effective control of Glasgow-based telecoms provider Thus, after its 180-pence-per-share offer for the company was declared unconditional.

The board of C&W yesterday confirmed all conditions to the offer for Thus have been satisfied or waived, and that the offer is therefore "unconditional in all respects". C&W said it will also now consolidate the financial results of Thus.

Thus, which owns the Demon Internet ISP, will henceforth be known as 'Thus, a Cable & Wireless business'.

C&W said it anticipates Thus' share listing and trading to be cancelled on 30 October and urged Thus shareholders who have not yet accepted the offer to do so without delay.

The telco holds a 85.2 per cent of the share capital of Thus - comprising 50.9 per cent of Thus shareholders who have accepted the offer and a 29.9 per cent stake in the company following share purchases it made on 30 June.