Telephone Rentals Plc, the telecommunications equipment supplier at the receiving end of Cable & Wireless Plc’s hostile bid, has published a healthy end of year profit forecast – pre-tax profits are expected to rise 18% to UKP23.5m; voicing his opposition to the bid, chairman Sir Charles Hall claims Cables needs Telephone Rentals for its experience in a highly competitive market, but that his firm did not need help from an inexperiencced newcomer – and describing the bid as a cheap solution to Mercury’s problems at the expense of Telephone Rental’s shareholders.
TELEPHONE RENTALS PUBLISHES HEALTHY END OF YEAR FORECAST
