10 November 2005
A company which provides a range of home phone services, as well as digital TV and broadband facilities, as confirmed that it is considering a takeover approach.
Kingston Communications provides solutions of this kind for business and residential customers in East Yorkshire and across the UK – and saw a 19 per cent share price rise on the same morning that it confirmed "conceptual" talks with an unnamed party.
In a statement, the firm – which has about 69,000 small shareholders and is 44.9 per cent owned by Hull City Council – admitted that an approach had been made but that there was no further news to report as yet.
It said: "The approach contains a number of conditions and pre-conditions which are being considered by the board."
The company has been in operation since 1904, and by 1999 it had expanded sufficiently to float on the stock exchange.
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