Information  X 
Enter a valid email address

Vyke Communications (VYKE)

  Print      Mail a friend

Monday 12 November, 2007

Vyke Communications

Statement re acquisition

Vyke Communications PLC
12 November 2007




                            Vyke Communications plc
                           ('Vyke' or 'the Company')

              Termination of discussions on potential acquisition

 
On 19 September 2007, the Company announced that it had signed a letter of
intent to acquire 100% of the share capital of a US based VoIP network service
provider subject to due diligence and approval by Vyke's Board of Directors. The
due diligence period provided in that letter of intent has expired and Vyke's
Board of Directors today announces that it is no longer pursuing this
acquisition as the target company did not meet Vyke's acquisition criteria.

Vyke will continue to build upon its existing US operations to accomplish its
strategic goals for this market.

The Company will maintain its current strategy of continued strong organic
growth with carefully chosen acquisitions, which meet its criteria pertaining to
geographical reach and quality of service.


                                      ENDS


For further information please contact:

Vyke Communications plc
Tommy Jensen, Executive Chairman                           +47 67 82 73 60
Malcolm Bacchus, CFO                                       +44 (0) 20 7732 3666

Daniel Stewart & Co                                        +44 (0) 20 7776 6550
Graham Webster

Threadneedle Communications                                +44 (0) 20 7936 9605
Graham Herring/Josh Royston




                      This information is provided by RNS
            The company news service from the London Stock Exchange