Kingston shares tumble as bid talks collapse

03 April 2006

Telco fails to reach agreement on price with Carlyle

Kingston Communications saw its shares take a nosedive of 13 per cent as news reached the market that its bid talks had been scuppered.

The Hull-based telecoms firm was in the midst of cutting a £400m deal with Carlyle, a US private equity group, when it failed to reach an agreement on a price structure.

Kingston first announced the deal in November, although it did not name the bidder.