Colt Telecom Set for Pounds 178m Rights Issue [Edition 2]

Evening Standard - London › February 20, 2009

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Summary

COLT Telecom's long-suffering majority shareholder Fidelity has been forced to bail it out again by underwriting a Pounds 178 million share issue.

The telecoms group, which today revealed a 17% fall in fourthquarter profits, needs the money to refinance debt payment. It is due to repay investors EUR 262.2 million at the end of this year.

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Colt Telecom Set for Pounds 178m Rights Issue [Edition 2]

Colt wants to se...

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