United Utilities to tender its 10 mln stg contracts with THUS Group |
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Fri, 26 Jan 2007 15:34
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LONDON (AFX) - United Utilities PLC, the water company and electricity network operator, is to put out to tender its existing supply contracts with the telecoms operator THUS PLC, currently annually worth 10 mln stg.The move follows concerns from regulator Ofwat that UU's associate companies might not comply with rules concerning trade between the two entities.THUS has responded that it will bid for the contracts, while reserving its rights under its current deals that stretch to 2009.The group said: 'THUS expects to be advised of the tender process on 31 January 2007 and expects the contract(s) to be awarded by 31 March 2007. THUS involvement in this process may or may not lead to renewal of its existing contracts.'THUS also said it proposed to issue 2,274,701 shares of 25 pence each as payment for the acquisition last year of Your Communications from United Utilities.Earlier this month United Utilities sold its business process outsourcing arm Vertex to a consortium of US-based private equity firms led by Oak Hill Capital Partners for 217.5 mln stg.newsdesk@afxnews.comgh/roCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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United Utilities sells Vertex to Oak Hill Capital Consortium for 217.5 mln stg 