Cable & Wireless ups bid for Japan's IDC
Wednesday 02 June 1999
C&W said yesterday that it had raised its offer of 107,372 yen per share to 110,577 yen (pounds 585.4), a bid which values IDC at 69bn yen (pounds 365m). The company had set this Saturday as the closing date for IDC's shareholders to accept its earlier offer but yesterday it was extended by 10 days to 15 June.
The move came the day after NTT upped its offer in a struggle which has broad implications for the future of foreign investment in Japan.
IDC's management, as well as major shareholders like the trading company Itochu, have made it clear that they favour a buy-out by NTT, which is 59.1 per cent owned by the Japanese government.
Hostile takeovers are almost unknown in Japan. But the promise of deregulation in telecoms is exciting interest among a number of foreign players, including British Telecom and AT&T, which in April acquired a 15 per cent share each in Japan Telecom.
Oscar Pistorius trial: Athlete vomits again after photographs of Reeva Steenkamp's body are shown in court
Arrest made after man is found by the side of the road with his penis cut off
Malaysia flight MH370: Pitbull song lyrics bear uncanny resemblance to missing plane mystery, according to YouTubers
Missing Malaysia Airlines Flight MH370: Indian Ocean latest search area for the aircraft and its passengers
'A charlatan' who scores 'cheap political points': Jeremy Paxman reopens war of words with Michael Gove over the World War One centenary
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Grace Dent: Who cares if she spells it Barraco Barner? Gemma Worrall is more employable than some bookish arts graduate
Fracking is turning the US into a bigger oil producer than Saudi Arabia
Europeans have ‘got whiter’ due to natural selection in past 5,000 years, scientists say
How climate change helped Genghis Khan: Scientists believe a sudden period of warmer weather allowed the Mongols to invade with such success
- 1 Arrest made after man is found by the side of the road with his penis cut off
- 2 Carnage after car hits cyclists in Brazil
- 3 Tim Berners-Lee on creating the web: 'I never expected all these cats'
- 4 Malaysia flight MH370: Pitbull song lyrics bear uncanny resemblance to missing plane mystery, according to YouTubers
- 5 First Kiss viral video was just a clothing advert starring actors
iJobs Money & Business
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£55000 - £70000 per annum + benefits: Pro-Recruitment Group: In-House Corporat...
£80000 - £100000 per annum + benefits: Pro-Recruitment Group: In-House Opportu...