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BT in cash offer for PlusNet Further consolidation could take place in the broadband market after BT made a recommended cash offer for PlusNet of £2.10 per share – valuing the company at around £67 million. If PlusNet accepts the offer, it will keep its branding, remain distinct from BT and continue to operate from its base in Sheffield. Ian Livingston, chief executive of retail at BT, said that the offer makes great sense for the company. "We already provide the UK's most popular and best-performing ADSL broadband service and this acquisition will ensure that even more people can enjoy our market-leading services," he said. Lee Strafford, who would retain his position of chief executive at PlusNet if the offer is accepted, said that while the directors of the company believed that it was a high quality business, there are considerable benefits to be gained from becoming part of BT in a market that is consolidating. The news comes after BT subsidiary Openreach announced last week that BT had unbundled one million of its broadband lines to competitors. © Adfero Ltd 16 November 2006  15:50:19

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