TAKING STOCK

The transformation of Telecom Credit Europe continues. Now Meteor Technology, it has agreed to pay pounds 1.6m, mainly in shares, for Paragon which provides pay phones in National Health and private hospitals as well as health centres. Earlier this month Meteor, in a reverse takeover, acquired DigiPhone Europe, marketing Internet telephone software (which allows long-distance calls to be made at cheap rates) and providing cash pay phones. Meteor shares held at 38p.

A row has broken out at Scott Pickford, a maker of machinery testing equipment which said on Monday profits would be ahead of expectations. Kuwaiti businessman Nasser al Salem who has 52 per cent wants "significant board and management changes". The shares firmed to 42p.