Scotland business

Coms considers offer for telecoms company Pinnacle

Crowd at T in the Park
Image caption Pinnacle specialises in providing telecoms services for big events like T in the Park

Stirlingshire telecoms company Pinnacle has become a takeover target after rival Coms said it was considering an offer.

In a statement to the stock exchange, Coms said that if it went ahead, it expected to offer about 21p per Pinnacle share - more than 3p above Monday night's closing price.

The London firm said discussions were at a "very preliminary stage".

Coms must say whether or not it intends to make an offer by 30 September.

Pinnacle specialises in telecoms services for large events and worked on the Olympics, the Queen's Diamond Jubilee, T in the Park, the Pope's visit and the Chelsea Flower Show.

Its latest set of financial figures revealed a fall in sales and a loss for the six months to the end of March.

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