Decision time for troubled Energis

NEWS Energis shareholders are expected to meet today to discuss the future of the debt-laden telco. The operator, which put itself up for sale recently, has to decide whether to accept an offer from an equity consortium or go ahead with a debt-for-equity swap with bondholders, according to a report in the Financial Times. The consortium, which consists of private equity firms Apax Partners, Carlyle Group and Permira and Credit Suisse First Boston, is understood to have made an offer in excess of the £690m of outstanding debt. The Energis board of directors also has to make a decision on its viable UK business.