Kingston Communications talks fall through
Talks end after agreement over price could not be reached
Discussions related to a potential sale of Kingston Communications have officially ended, the telco has confirmed today.
In a statement this morning, Kingston confirmed that talks with all involved parties relating to a potential sale of the company, as well to any potential sale of its VAR arm Affiniti, had ended because no agreement could be reached over the sale price or structure.
Anita Pace, group marketing director at Kingston Communications, told CRN in a statement this morning: "We are saying that discussions for a potential sale [of Kingston Communications] have ended. This is because of price and structure.
Pace added that an individual sale of Affiniti was also out of the question.
"Affiniti being cherry-picked was always pure media speculation and any sale would have involved the group as a whole. Our focus now is our financial results on the 23 May and it's now business as usual," she said.
Earlier this week it had also been reported that Kingston's largest share holder - Hull City Council, which owns 31 per cent of the telco, had held a meeting on Wednesday to discuss a potential sale
However, in response to Kingston's announcement this morning, the Council said in a statement: "Hull City Council has been monitoring the recent discussions between the company and the potential bidder with interest. We have noted the comments of the Kingston board about the final outcome of these discussions and fully understand the board's decision."