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Energis Approves C&W Acquisition

Posted: 16th Aug, 2005 By: MarkJ
Energis's CEO, John Pluthero, has updated the network/ISP supplier’s website to confirm that "over 75% percent of Energis stakeholders have accepted [THE] offer from Cable and Wireless plc":

Cable and Wireless has announced that over 75% percent of Energis stakeholders have accepted an offer from Cable and Wireless plc to acquire Energis. Practically this means that our shareholders have agreed to sell the Energis business to Cable and Wireless. The deal should complete in the autumn once we have clearance from the Office of Fair Trading and agreement from our remaining stakeholders.

Once we have the appropriate approvals we’ll be combining Cable and Wireless’ UK Retail and Carrier Services businesses and Energis to create a new Cable and Wireless UK business that I will lead. The new business will focus on delivering the best telecommunications services, offering a great service experience day in, day out.

John Pluthero, CEO, Energis.


The deal ends several days of high controversy, which most recently saw THUS go public with a rival bid, something that Energis had already rejected.
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