Bloomberg.com: U.K. Energis prefer C&W to THUS

Bloomberg.com: U.K.

It seems THUS really did have a need for an M&A department. THUS bid £600m in cash and £200m in THUS shares. C&W's bid was undisclosed but they have cash in the bank.

If THUS had bought Energis, they'd have to have loaned the money, so paying off Energis loans with THUS loans, though the combined company would have been a potentially big threat to C&W. Now that Energis are going with C&W they'll get swallowed up.