KCOM delisted as acquisition completes

Comms firm goes private in £627m deal

KCOM has been removed from the London Stock Exchange following the completion of its £627m acquisition.

The telecoms firm has found itself the subject of a bidding war over recent weeks, with MEIF 6 Fibre - a subsidiary of investment firm Macquarie - eventually winning out.

The winning bid was over £100m more than the offer first made by Humber Bidco, a subsidiary of the Universities Superannuation Scheme.

Shareholders voted to approve the MEIF offer, and the High Court sanctioned the deal earlier this week.

KCOM also announced its full-year results on Wednesday.

Sales for the period ending 31 July declined five per cent to £281.6m, with a loss before tax £31.6m.

Revenue in its enterprise IT division was "broadly flat" at £85.6m, which KCOM said reflected "disappointing order intake performance".