LONDON (Alliance News) - Cable and Wireless Communications PLC Thursday confirmed it is in talks with US cable company Liberty Global PLC regarding a possible shares and cash offer for the company.
The company said that shareholders are advised to take no action, and added there can be no certainty any firm offer will be made, or the terms on which any offer may be made.
Under UK takeover code Liberty Global has until November 19 to either announce a firm intention to make an offer, or walk away.
Shares in Cable and Wireless closed up 3.9% at 60.26 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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