Banks Delay C&W/Energis Deal
Posted: 12th Aug, 2005 By: MarkJ
Investment banks MERRILL Lynch and Morgan Stanley, which hold a large amount of Energis's debt, have been accused of improperly holding up C&Ws offer by refusing to agree:
Their alleged stance could cause C&W to walk away from the deal when a deadline for acceptance of the firms unofficial offer expires on Monday. Sources close to the alternative telecoms carrier made it clear last night that C&W would not be returning with an improved offer.
The tactics employed by the two Wall Street banks are likely to anger Energiss management and other financial backers, who are believed to be happy with the offer already on the table thought to be about £780 million.
The price offered by C&W is thought to be the result of months of delicate negotiations with Energiss management. Having achieved a price satisfactory to both sides, C&W is considered extremely unlikely to budge on its offer.
More @ The Times Newspaper.
Their alleged stance could cause C&W to walk away from the deal when a deadline for acceptance of the firms unofficial offer expires on Monday. Sources close to the alternative telecoms carrier made it clear last night that C&W would not be returning with an improved offer.
The tactics employed by the two Wall Street banks are likely to anger Energiss management and other financial backers, who are believed to be happy with the offer already on the table thought to be about £780 million.
The price offered by C&W is thought to be the result of months of delicate negotiations with Energiss management. Having achieved a price satisfactory to both sides, C&W is considered extremely unlikely to budge on its offer.
More @ The Times Newspaper.
Latest UK ISP News
Cheap BIG ISPs for 100Mbps+
150,000+ Customers | View More ISPs
Cheapest ISPs for 100Mbps+
Modest Availability | View More ISPs
Latest UK ISP News
Helpful ISP Guides and Tips
Sponsored Links
The Top 15 Category Tags
- FTTP (6609)
- BT (3831)
- Politics (2987)
- Business (2682)
- Openreach (2586)
- Building Digital UK (2468)
- Mobile Broadband (2394)
- FTTC (2126)
- Statistics (2077)
- 4G (2034)
- Virgin Media (1957)
- Ofcom Regulation (1728)
- 5G (1649)
- Fibre Optic (1566)
- Wireless Internet (1560)
Sponsored
Copyright © 1999 to Present - ISPreview.co.uk - All Rights Reserved - Terms , Privacy and Cookie Policy , Links , Website Rules