By Dominic Maher, 28 January 1999 14:47
NEWS UK telco, Kingston Communications is to float on the London Stock Exchange to raise £500m to aid expansion plans. Kingston, which is owned by Hull City Council, said the money raised from the partial flotation will help it compete in the international communications market. Hull Council gave the go-ahead to the sell-off after consulting City bankers. The council will retain a controlling share in the company, which recently fought off a £245m takeover bid from US businessman, Laurence Zimmerman.
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