Kingston Communications is an established UK communications company. The Group's national business-to-business capabilities encompass the provision of fully integrated and managed network solutions, complemented by the delivery of voice, data and call handling services in the towns and cities served by the Kingston Communications network. This infrastructure comprises twenty-five metropolitan fibre networks and a long distance broadband network, which was initiated for service in May 2001. Kingston's new media activities include the DSL-based interactive television service, KIT, and satellite broadband content, storage and distribution arm, Kingston inmedia. The Group's East Yorkshire network operation has served business and residential customers since 1904.

Nice little increase by Legal & General Group plc.

Number of shares / amount of stock acquired 3,197,658.

Results out. Look good in most area's.
Profits up, cash flow good. Cash in bank.
It appears the management team have finally got a grip.
Also the future looks good.
Will see what the market thinks.
Will this bring out the takeover movers. No doubt the rumor mill will start rolling again.

Also.....Council's intention to sell the 157,499,999
ordinary shares it holds in Kingston subject, inter alia, to market conditions.
The sale, if completed, would represent the entire stake the Council holds in
Kingston.

This will alter things. The council (who couldn't run a phone box) need the money. They are not bothered about the future. They want now.

if the above is accurate, then it just shows what a bunch of total arseholes are sitting in HCC .... they could have sold at 85 a year or so back but decided to be greedy

Different council since the last elections, but saying that I don't expect any difference. The only difference is in the council majority. I have been expecting a sellout for years. As cynic states, they could have sold out at a much higher price. This council have as much foresight as the last lot. Absolutely none.

Shouldn't these have been moving up. There were takeover rumours last year and now the council will sell their 30%.

Why is there no interest?

because it depends on how HCC dump their huge holding on the market ..... bear in mind that currently the t/o interest in this company has walked away

JRM,

I think most sellers think the share will go up in the long run, but down in the short term. At the moment buys are outnumbering sells, so the MM's are making the market. I wonder how many are short selling these shares.
Give it a few weeks (or less) and I think things will sort themselves out.
All IMHO of course.

Picked up a few @ 68 - with HCC finally out of the way this can start to act as a proper company. HCC have been an albatross round their neck.

May go lower in the auction so may pick up more for the SIPP

as i understand it, HCC is NOT out of the way .... they still hold 30% which will have a horrid effect on the market unless it is properly placed etc etc .... whether or not the company is any more of great interest to a preadtor is another Q

No they are not out of the way yet but with Deutsche Bank expected to complete a placing of all HCC shares today it wont be long.
With a good cash generating residential business it is thought that a private equity group may step in. If they do the previous sp offered by Carlyle could be breached.
If a PEG step into the bidding, things could hot up very quickly.
All supposition obviously.

cynic
As greekman says DB going through the selling process at the moment - so should know Thurs/Fri what HCC got for their holding - not much, considering - but serves 'em right - they could have got a lot more than 85p but that's history now.

Let's see how they fare unshackled - I suspect there will be lots of mileage for the Hull Daily Mail to beat HCC up with in the coming months/years.

So much for Municipal enterprise - Joe Chamberlain will be turning in his grave :)

PXC is a better gamble on t/o front .... at leasst they are actually working on a deal (Tiscali + BT) whereas KCOM is all hypothesis ...... or CW. for a quality company with genuine t/o prospects

Yer payz yer munny n tex yer choice etc.

i have ..... hold both PXC (losing) and CW. (winning) and will (and would) give a miss to (not as strong as "avoid") KCOM

Fair do's - my entry is based on L2 action - looks to me as if 68 is the managed selling price

RESULTS OF PLACING OF SHARES BY KINGSTON UPON HULL CITY COUNCIL IN KINGSTON COMMUNICATIONS (HULL) PLC

Kingston upon Hull City Council ("Hull City Council") is pleased to announce that, further to the announcement on Tuesday 22 May of a proposed placing (the "Placing"), 157,499,999 ordinary shares in Kingston Communications (HULL) PLC ("Kingston Communications") have been successfully placed by Deutsche Bank AG, London Branch ("Deutsche Bank") as bookrunner and Investec and JPMorgan Cazenove as Co-Lead Managers at a price of 68 pence per share.

So within a couple of days or less we will know who to. Not a bad price either.

Spot on mg!!

With the closing SP of 10 times projected 2008 earnings, and with the quick placing of HHC's holdings, I am expecting some very quick news re possible predators.
The mystery is who are the holders of the sold block.

Soon to be released greekman, for us LTH'rs of KCOM a couple of days won't test our patience too much...............we're experts at being patient :-)

"So are the holders of SEO," he said sourly