By Tony Hallett, 14 March 2002 07:55
NEWS A recent TeleCity decision to pull out of talks with a potential white knight may not have been a good decision after all. It has emerged that Storage company InTechology made an offer of 18p per share for TeleCity but the beleaguered web hosting outfit held out for an offer in the region of 30p per share, according to this morning's FT. On Monday, this corporate chastity was rewarded by the stock market but shares in TeleCity were worth 11.5p yesterday - down 10 per cent on the day - valuing the company at £25.2m, a fraction of its worth when web hosting was considered a future boom industry.
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