American eyes on Energis
12 April 2012
BOMBED-OUT shares in troubled telecoms company Energis could attract a flicker of interest today on news that Worldcom, the US telecoms group, is interested in buying the group. Worldcom has not yet made a bid, but it is one of several parties circling the stricken UK firm.
Private equity groups including Apax Partners, Carlyle Group, Kohlberg Kravis Roberts and Providence Capital, have approached Energis. Some have made indicative bids, with others expected to launch theirs this week.
Energis shares closed at 3.75p last week, valuing the company at £65m. It was worth £12bn at its height. The company dismayed the City two weeks ago when it admitted it would breach its banking covenants.
