15th Jan 2016 13:08
LONDON (Alliance News) - Shares in data centre operator TeleCity Group PLC were suspended on Friday and will be cancelled from trading at the end of the day, as its takeover by a US rival was completed.
FTSE 250-listed TeleCity was acquired for GBP2.35 billion in cash by Equinix Inc, a US-based peer. The deal received regulatory approval from the European Commission in November after Equinix agreed to sell TeleCity sites in the UK, the Netherlands and Germany to assuage competition concerns.
TeleCity's departure will mean Pendragon PLC, the car dealer, will be promoted to the FTSE 250 index from Monday. Pendragon, like other car dealers, had a very strong 2015 and will join rival Lookers PLC in the index. Lookers joined the FTSE 250 only last year.
By Sam Unsted; [email protected]; @SamUAtAlliance
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