£627m takeover of KCOM approved
The £627m bid for the takeover of Hull-based telecoms business KCOM has been given court approval.
Asset management firm Macquarie Infrastructure and Real Assets, trading as MEIF Fibre 6, won a fierce week-long auction process to buy the business on 12 July.
On Friday, a Reconvened Court Meeting and Reconvened General Meeting formally approved the takeover, with an 82% shareholder approval vote for the takeover to take place.
It is expected that trading in KCOM shares on the London Stock Exchange’s main market will be suspended on 1 August 2019 and that the scheme will become effective on the same date.
