KCOM set to be acquired following £504m offer 

KCOM is set to be acquired following a £504m offer from Universities Superannuation Scheme (USSL), representing 97p per share.

Mike Powell, Head of the Private Markets Group, USS Investment Management, said: "We believe that KCOM is well-placed to grow and thrive under private ownership, that is why we have made this offer to shareholders at an attractive premium. 

"With the right capital support and assistance, we believe that KCOM's management will be able to enhance the quality of its offering, delivering benefits for customers as well as sustainable, long-term returns."

KCOM's share price rose by a third following the news.

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