BT Confirms 67 million bid for PlusNet

Article posted on Thursday, 16-Nov-2006 08:33 AM

After much speculation, it has finally been confirmed today that BT have indeed made an offer to buy PlusNet Plc.

The offer stands at 210p per share, bringing the total to £67 million.

Little information about the terms of the offer is known at present, but we do know that PlusNet are to retain their own brand and identity, and Lee Strafford is to remain as Chief Executive.

Initial reports back in October suggested that BT were in talks with PlusNet, but nothing concrete was confirmed or denied at the time.

What the proposed takeover will mean to PlusNet customers is largely unknown at present. We will continue to update this news in due course, as the terms of the offer are made known to us.
Article last edited on Monday, 20-Aug-2007 22:28 PM