UPDATE 1-Cable & Wireless extends Thus offer indefinitely

Tag : cable


LONDON, Sept 19 (Reuters) - British telecoms group Cable & Wirelessextended its 329 million-pound ($600 million) offer for rival Thusuntil further notice on Friday and said it expected the offer tobecome unconditional on Oct. 1.
Cable & Wireless said it had bought 29.9 percent of Thus's sharesand received acceptances of its offer representing a further 52percent of Thus's issued shares, giving it about 82 percent of thecompany.
'In the absence of unforeseen circumstances... C&W Holdco currentlyexpects the outstanding conditions to be satisfied or waived and todeclare the offer unconditional in all respects on 1 October 2008,'it said in a statement.
'Under these circumstances, Cable & Wireless would consolidate thefinancial results of Thus from 1 October 2008.'
(Reporting by Georgina Prodhan; editing by Sue Thomas) ($1=.5479Pound) Keywords: C&W/THUS
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