Cable & Wireless ups Thus offer to 180p

LONDON (ShareCast) - Cable & Wireless this morning confirmed it has upped its offer for Thus with a cash offer of 180p per share.

Cable & Wireless approached the board of Thus about a possible cash offer of 165p per share at the end of May.

However Thus, which provides telecoms and broadband networks, rejected the proposal in June, saying the offer undervalued the firm.

This morning's confirmation follows weekend press reports of a sweetened offer.

Source: http://uk.biz.yahoo.com/080630/214/i2kmo.html