Energis shares get an unlikely boost

NEWS Shares in ailing telecoms carrier Energis rose by 12 per cent yesterday following reports that US giant WorldCom is considering making a bid for the company. The company's stock rose 12.27 per cent to rest at 4.21p, up from 3.75p on the previous day's close. However, WorldCom later said it had not held talks with the company, nor was it
considering an acquisition. Energis bondholders are thought be setting up an action group to act in their interests. According to the FT, analysts claim bondholders are likely to be offered a debt-for-equity swap in any consecutive restructuring operation.