Thus brushes off C&W offer, but leaves door open

Cable and Wireless may have to dig a little deeper in its pockets if it decides to go through with its takeover bid of Scottish telecom powerhouse Thus.

C&W last week offered 160p per share, an amount the board at Thus said undervalued the company. A deal for Thus would give C&W a better chance at unsettling BT, its chief rival.

C&W currently is undergoing a major restructuring, one hat includes a possible “demerger” of C&W’s U.K. division from the international unit.

For more:
- See the City A.M. story [1]

Related article:
Cable & Wireless makes bid for Thus Cable & Wireless story [2]