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Article: KINGSTON COMMUNICATIONS (KCOM).
- Article from:
- Investors Chronicle
- Article date:
- January 20, 2006
CopyrightCOPYRIGHT 2006 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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71p - Telecommunication services - Kingston Communications hit the headlines in November when it received a bid approach. The shares surged on the news but, since then, there have been no developments. Rumours abound about the identity of the possible bidder, with the favourite being private equity outfit The Carlyle Group, which bought Kingston's satellite business in 1994.
So what's attracting predators to Kingston? A new management team has sold off non-core assets and embarked on a clear corporate strategy: to use the strong cash flow from Kingston's traditional telecoms business to fund diversification out of highly competitive voice services into more ...