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Uncertain energy markets spark cut to tender offer
Thursday 22 Jun 2017 Author: Steven Frazer

Given the political, economic and regulatory uncertainties
at large, it seems pretty reasonable that Telecom Plus (TEP) is picking balance sheet strength over short-term shareholder generosity.

Opportunities and threats will likely emerge during the coming months and the multi-utility supplier will want the financial muscle to face them head on, so it has slashed the size of its planned share tender offer from £71m to £25m. The cash pile had been earned from the sale of its business energy business Opus, sold to Drax (DRX for… you’ve guessed it, £71m. (SF)

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