UK enterprise telco Colt Telecom has said it is looking to raise £178.3m in new shares to pay off loans, reports Reuters.
As part of the issue, it will sell 210.96 new shares, at 84.5 apiece.
Fidelity, which owns 61.7% of the company, is fully…
UK enterprise telco Colt Telecom has said it is looking to raise £178.3m in new shares to pay off loans, reports Reuters.
As part of the issue, it will sell 210.96 new shares, at 84.5 apiece.
Fidelity, which owns 61.7% of the company, is fully underwriting the transaction.
The news came as the Luxembourg-based company warned of an uncertain outlook for 2009. The company says the issue will help it repay some E262.m of notes due in December 2009.
Morgan Stanley and Deutsche Bank will sponsor the offer.