The company dates back to 1902 and owns the city’s unique telephone boxes KCOMThe owner of Hull’s distinctive cream-coloured telephone boxes has torn up its agreed takeover by Britain’s main university pension fund after receiving a higher offer. Kcom recommended a £563 million bid from Macquarie Infrastructure and Real Assets yesterday, pitched at 108p per share. The Australian fund’s surprise approach topped a £504 million deal with the trustees of the Universities Superannuation Scheme in April. The scheme is one of Britain’s largest private sector pension funds, with £64 billion in assets and more than 400,000 members. The battle for Kcom, which owns the telephone network in the Hull area, is the latest in a flurry of takeovers in the sector.

Source: The Times June 03, 2019 23:02 UTC