BT to buy Plusnet

Discussion in 'UK VOIP' started by Sunil Sood, Nov 16, 2006.

  1. Sunil Sood

    Sunil Sood Guest

    BT today announced it has made a recommended cash offer for PlusNet,
    offering 210p per share, valuing the company at approximately £67m.

    The offer for PlusNet fits perfectly with BT's strategy of providing its
    customers with the most that broadband can deliver. Broadband is
    increasingly becoming more than just fast internet access and PlusNet has a
    strong reputation for both customer service and innovation.

    Operating since 1997, PlusNet was listed on the Alternative Investment
    Market in 2004. It has grown rapidly during the last few years and now has
    close to
    200,000 broadband customers as well as an additional narrowband customer
    base. If the offer is accepted, PlusNet will retain its brand and distinct
    identity. It will continue to operate from its base in Sheffield and Lee
    Strafford will remain its CEO. For the 12 months to 30 June 2006 the company
    had revenues of £41m, EBITDA of £7.5m and net income of £3.9m.

    BT Retail chief executive, Ian Livingston said: 'This offer makes great
    sense for BT. We already provide the UK's most popular and best-performing
    ADSL broadband service and this acquisition will ensure that even more
    people can enjoy our market-leading services. PlusNet's customers and
    employees will benefit from the combination of PlusNet's excellent platform
    and access to BT's resources and technology development.'

    Lee Strafford, CEO of PlusNet said: 'I am pleased to announce BT's offer
    this morning. Whilst the PlusNet Directors continue to believe that PlusNet
    is a high
    quality business, our sector is consolidating and there are considerable
    benefits to PlusNet in becoming part of BT. BT recognises the importance of
    retaining PlusNet's identity and culture and I believe this will give rise
    to exciting opportunities for PlusNet, our customers and our employees.'

    The directors of the company, having unanimously recommended the offer, have
    provided irrevocable undertakings to accept BT's offer.'


    Sunil Sood, Nov 16, 2006
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  2. Sunil Sood

    ato_zee Guest

    Customer service will deteriorate to the lowest common denominator.
    ato_zee, Nov 16, 2006
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  3. will?!? Its been there for some time
    Great Eastern, Nov 16, 2006
  4. Sunil Sood

    M.Dexter Guest

    Since I signed up with them on 56k at least and that was before BB was
    thought of .
    M.Dexter, Nov 16, 2006
  5. Sunil Sood

    thoss Guest

    If customer service changed to the lowest common denominator I, for one,
    would rejoice. Perhaps you mean that it would deteriorate to the
    highest common factor.
    thoss, Nov 17, 2006
  6. I wasn't aware zero could be a denominator.

    Jeremy Porteous, Nov 17, 2006
  7. Sunil Sood

    Graham Guest

    Early calculators (late 60's) would crash if you divided by zero.
    Graham, Nov 17, 2006
  8. Sunil Sood

    Chris Guest

    Consider the numbers 3 and 9.
    Their Highest Common Factor is 3.
    Their Lowest Common Multiple is 9.

    Perhaps a better example is this:

    Consider the numbers 12 and 18.
    Their Highest Common Factor is 6.
    Their Lowest Common Multiple is 36.
    Chris, Nov 20, 2006
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